Let’s zoom in
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 25 July 2024
⏱️ 29 minutes
🧾️ Download transcript
Summary
New gross domestic product data just came in — GDP grew a healthy 2.8% annually in the second quarter, better than predicted. Meanwhile, consumers are focused on buying essentials and credit card debt is growing. In this episode, we’ll examine why GDP is strong while many everyday people feel squeezed for cash. Plus: New real estate broker fee rules take effect next month and the number of Americans who predict they’ll retire young is up.
Transcript
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| 1:07.0 | From American public media. |
| 1:09.0 | This is market play. In Los Angeles, on Kai Rizel, it It is Thursday today, the 25th of July. Good as always to have you long, everybody. |
| 1:27.0 | Well, how about that? It turns out the American economy is growing just fine, thank you very much. |
| 1:34.0 | Our first whack at gross domestic product for the second quarter, that is April through June, |
| 1:38.8 | came out this morning. |
| 1:40.2 | Early guesses had been somewhere near 2% annualized, give or take a couple of tenths percent. |
| 1:45.4 | What we got was 2.8, that is double GDP growth in Q1. |
| 1:50.5 | The big categories, vehicles, recreational goods, services, and furniture, as well as the essentials, health care and housing. |
| 1:57.0 | And while, yes, direct investment and trade matter to what really drove GDP last quarter, were consumers. |
| 2:05.0 | Consumers who are, according to the Fed, struggling to pay off their credit cards. |
| 2:09.0 | Consumers who are, according to the Stars like Target and Walmart, focusing more on essentials. |
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