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US GDP is bouncing back, so says the NY Fed GDPNow forecast.

Currently, the US has these stats [2023 Q2]:
- US debt to GDP is 120%
- US deficit to GDP is +8% 
- US federal interest expense up 100%

A recession is a negative GDP.

The GFC 2008/09 recession was -3% of GDP. Today the deficit is 8% of GDP, currently, there is 5% more spending than the GFC crisis. So maybe this is why the GDPNow forecast is forecasting a 3.9% forecast in 2023 Q3, on the back of government spending.  

Chart 1 - NY Fed GDP now forecast for 2023 Q3

(Click on image to enlarge)

Chart 2 - If these good forecasts for US GDP continue then we will see a recovery in the US ISM PMI Manufacturing index.

(Click on image to enlarge)

Chart 3 - Silver is likely to recover on the back of recovering US GDP and US ISM PMI.

(Click on image to enlarge)

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