Back in October, the initial, or advanced, Q3 GDP report showed the U.S. economy grew 4.9 percent; and on 29 November the GDP estimate was revised up to 5.2 percent, which made Q3 the fastest growing GDP since 2021. The Bureau of Economic Analysis (BEA) regularly calculates and reports GDP in a series; the advanced GDP – the initial report that garners all the news headlines – about 30 days after the quarter ends, then a second revision about 60 days later and a third revision roughly 90 days after that. The third revision for the Q3 2023 GDP report will be released on 21 December. Each report and revision uses increasingly more comprehensive and improved data to fine tune the initial estimates. The advanced estima...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.