GDP growth measurements have a big bias due to tariffs on, tariffs off, tariffs on again policies wrecking imports and exports numbers. Consumer spending is up, too, so I too fail to see that gdp growth while jobs are not as up as expected is due to AI making us more productive and not just people spending more after months of increased savings due to tariffs.
I'm curious how "consumer spending" is quantified here.
Is consumer spending measured in total dollars spent? If so, isn't that curious wrinkle in an economy of rising prices, and decreasing purchasing power?
If true, I believe less quantity could be purchased at a higher cost per person, making it appear that consumer spending is up.
Presumably these numbers are benchmarked/peg to some sort of constant and/or standardization
