The Federal deficit is now running around 7% of GDP, powering the economy through the banking crisis which now seems to be fading, and no new problem banks have been announced.
This is inflation-adjusted, and holding up well above pre-COVID levels:
Surprising to the upside:
The University of Michigan consumer sentiment for the US unexpectedly increased to 63.5 in April of 2023 from 62 in March, beating forecasts of 62, preliminary estimates showed. A rise was seen in both current conditions (68.6 vs 66.3) and expectations (60.3 vs 59.2). Meanwhile inflation for the year-ahead is seen jumping to a five-month high of 4.6% from 3.6% while the five-year gauge was unchanged at 2.9%. While consumers have noted the easing of inflation among durable goods and cars, they still expect high inflation to persist, at least in the short run.source
Back up to 2.5% which is very strong real growth, defying universal expectations of an interest rate induced slowdown: