US GDP - 2025-12-22

Well, there's our productivity-led boom for you. We knew jobs (and hours worked) were weak in Q3, so this morning's consensus-shattering print at 4.3% can only be explained by productivity. But the "affordability crisis" that is all the rage is on full display. Disposable personal income rose 2.8%, but so did consumer prices. Break-even isn't good enough.