What are the Key Trends?
report 2.8b se asialeebloomberg of the most rapidly growing trends in 2023 is ‘Tap & Go’ mobile payments (no cash). The trend has grown quickly as customers are gaining more convenience and businesses need to make payments easy for customers. The market is dominate by China with Tencent’s WeChat Pay and Alibaba’s Alipay both showing dominance. But it is gaining market share around the world including in the US.
Google, Facebook & Amazon are also impact. But need to grow their user base to stay relevant in this fast moving space. Leading smartphone companies load their own payment apps into their phones, eg Apple Pay (ranks 3rd globally) and Samsung Pay (1st). Other players include phone mobile network providers such as Vodafone (WMT), which owns PhonePe. Competition may also be impact by regulatory or political change such as France’s 3% ‘Digital Tax’ designed to gain tax from Google & Facebook.
Things You Need to Know About the US Economy
Real GDP Growth Rate
report 2.8b se asialeebloomberg real GDP growth rate is a measurement of the year-over-year change in the value of goods and services produced in a country. It is used by governments and policymakers to analyze the economy and make decisions on monetary policy, trade policies, and tax rates.
In a growing economy, the real GDP growth rate will be positive as businesses are creating new jobs and boosting productivity. If the growth rate is negative, it will indicate that the economy is in recession.
The real GDP growth rate reflects the aggregate output of all sectors within a country. This includes government spending, private consumption, business investment, and net exports less imports.
Inflation
The inflation rate is a measure of overall price changes for a diversify set of products and services. Inflation is generally thought of as a negative thing, since it causes a loss of purchasing power for people.
report 2.8b se asialeebloomberg, in a healthy economy, inflation is typically low and stable. A lower inflation rate is good for people and companies. As it makes money more valuable and keeps it in circulation rather than being hoarded.
Inflation is caused by a variety of factors, including increases in production costs and increased demand for goods and services. It may also be cause by supply chain problems and other unforeseen issues.
Unemployment
Unemployment is a major economic concern, and it can have serious consequences for families, employers, the economy, and society as a whole. A good understanding of unemployment statistics, types of unemployment, and ways to address the issue can help individuals prepare for situations that could lead to joblessness.
The United States has regularly tracked unemployment as a measure of economic health since 1940 using the Current Population Survey (CPS). The CPS polls individuals from various areas in each state to calculate the rate of unemployed individuals.
Economists divide unemployment into three categories: frictional, structural, and cyclical. Cyclical unemployment is a deviation from the natural rate of unemployment, which occurs during recessions and expansions.
GDP Deflator
The GDP deflator is a measure of inflation or deflation in the economy. It is calculate by dividing the nominal GDP in a year by the price of goods and services sold at that same year’s prices.
It is not based on a fixed basket of goods or services, but changes with people’s consumption and investment patterns. This allows for a more flexible mode of study and helps detect behavioural changes in demand and consumption.
The GDP deflator is a better indicator of inflation than the CPI because it takes into account all goods and services produced in an economy. The CPI is based on a limited basket of goods, so it is not as comprehensive.
GDP Growth Rate
GDP growth is one of the most commonly used metrics to measure whether an economy is doing well. When a country’s economy grows slowly or contracts, that can be an indicator of trouble ahead.
A healthy GDP growth rate is between 2% and 3%. When it is above that, it means the economy is growing too rapidly and needs to be slowed down.
Final Words;
The GDP growth rate can be calculated by comparing the economic activity between two periods of time and then multiplying by that number. It is a useful indicator of how an economy is growing and what it needs to do to grow faster in the future.