DATA DICHOTOMY
10/08/2025 |
25Q3 GDP growth is projected to have grown as fast as 3.8%. Yet, simultaneously, unemployment is worsening, hours worked are largely flat, and ADP suggests September employment declined. How can this dichotomy be? Maybe there’ll be data revisions, maybe it’s due to an anomaly like temporarily weak imports due to tariffs or strong EV sales due to expiring credits, but better yet, maybe it’s rising labor productivity related to Generative AI/LLM!