Rafael Nam
👤 PersonAppearances Over Time
Podcast Appearances
is set to release an important report card detailing how much the economy grew in the July to September period.
It's backwards looking, so it's not going to provide the latest snapshot of the economy.
Nonetheless, the GDP report is coming at a time when Americans are not feeling great about the economy.
Recent polls have shown the cost of living and affordability are becoming a top concern at many households.
That's putting a lot of pressure on President Trump, who's aggressively defending his economic record.
And it means this GDP data could attract even more attention in the days leading up to Christmas.
One of the many consequences of the government shutdown was that the Labor Department was no longer able to compile important economic reports.
But with the shutdown now well over, the government is quickly catching up.
Early this week, the Labor Department is set to release the latest employment data for November.
That will be followed by the latest inflation data a few days later.
Both reports were originally scheduled to come out earlier this month, in time for the Federal Reserve's policy meeting last week.
Nonetheless, they will still provide critical information about the economy, even if it's just a little bit later.
The September jobs report was supposed to have come out on October 3rd, but it will now be released on Thursday.
Although late, it will still provide investors with an important look at the state of the labor market earlier in the fall.
But the Bureau of Labor Statistics has not said if or when it will release a jobs report or inflation data for October, both of which were also held back because of the shutdown.
And turning to the corporate sector, investors this week will also get earnings from chip giant Nvidia, while results from Walmart's earnings should give investors a good glimpse about consumer spending in light of President Trump's tariffs.