USA GDP has contracted for two consecutive quarters Business automation spending continues to grow USA continues to look at ways to expand LNG exports Farmers continue to face challenges with crop yields Housing market is facing enormous challenges over eighteen months Inflation has been declining but more needs to be done to address systemic issues with inflation. Key focus areas should be reeling government spending, tax, and regulatory reforms as part of addressing issues with productivity Innovation is another area that the private sector needs to do more investing as part of managing their product life cycles.

1. KEY PERFORMANCE
INDICATORS FOR
THE UNITED STATES
– JULY 2022 AND
AUGUST 2022
Paul Young CPA CGA
September 30, 2022

2. PAUL YOUNG - BIO
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. AGENDA
• KPI (Macro and Micro Indicators
• USA GDP
• Analysis of Durable Goods
• Retail Sales / USA
• CPI – Inflation
• USA Employment
• Merchandise Trade
• Stock Market
• Wage Growth Analysis
• Housing Market – USA
• Fiscal Update / CBO
• USA Border / Texas
• USA Income
• Housing
• Summary

4. KEY MACRO AND MICRO INDICATORS
FOR THE UNITED STATES

5. JUNE 2022 – GDP
USA GDP.pdf

6. USA GDP
Source - https://www.bea.gov/news/2021/gross-domestic-product-state-4th-
quarter-2020-and-annual-2020-preliminary

7. USA GDP
Source -
https://www.bea.gov/n
ews/2021/gross-
domestic-product-
state-4th-quarter-
2020-and-annual-
2020-preliminary

8. USA VS CANADA – RETAIL SALES
BMO -
https://economics.bmo.com/en/publications/detail
/ead26518-a9e6-424b-9979-dad2f71aee46/
BMO -
https://economics.bmo.com/en/publications/detail/f64
b2abe-0b26-4399-a1d3-7cd4fb861bae/
U.S. Retail Sales No
Gas.pdf
A Summertime
Slump in Sales.pdf

9. DURABLE GOODS / KEY AREAS – USA
Source - https://www.census.gov/economic-indicators/index.php
20222709_Durable
Goods_USA_August 2022.pdf

10. USA DURABLE GOODS
Source - https://economics.bmo.com/en/publications/detail/c437f90b-77d3-4400-ac2a-6e9340d1b6cb/
Durable Strength in
Core Orders.pdf

11. THE USA – TARGET Global Forecast -
May 2022.pdf
• Inflation to hit a target of 1.9% to 2.2% range will require a drastic shift in policies. The USA like
many countries has issues with innovation, skill gaps, productivity, government fiscal gap, and
household debt.
• Inflation new target likely needs to be 3.5% to 4.1% due to shift of both the public and private
sector to ESG reporting and the green economy.
Inflation - USA -
August 2022.pdf

12. OECD AND INFLATION

13. BMO – CONSUMER PRICE INDEX
Source –
https://economics.bmo.com/en/publications/detail/ae97550
d-8a18-46fc-bb31-ca013cee5f45/
BMO - Inflation - CPI
- Canada - July 2022.pdf
Canadian CPI (Aug.)
— Another Step Down a Long Road.pd

14. USA VS CANADA EMPLOYMENT Steady Growth In
Payrolls ... As It Was.pdf
Canadian Jobs
Summer of Discontent.pdf

15. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 15

16. TRADE ANALYSIS
- USA
https://www.census.gov/for
eign-trade/data/index.html

17. COUNTRY /
TRADE – USA
Source – USA government

18. BREAKDOWN/
TRADE – USA
Source – USA government

19. TRADE ANALYSIS - USA
Source - https://www.census.gov/foreign-trade/data/index.html

20. CHINA AND USA TRADE

21. CHINA AND USA TRADE
Source - https://www.scmp.com/economy/china-economy/article/3166325/us-china-trade-deal-
historic-failure-purchases-more-30-cent and https://www.piie.com/blogs/realtime-economic-issues-
watch/china-bought-none-extra-200-billion-us-exports-trumps-trade
US-China trade deal
a ‘historic failure’ with purchases more than 30 per cent short of target, PIIE report says South China Mornin

22. SUMMARY
PRESENTATION TITLE 22
Summary
• Concerns over housing debt and affordable housing are driving down markets
• Access to critical metals has become a growing concerns for countries trying to shift to cleaner economic policies
• Lack of focus on systemic issues with inflation
• Supply chain disruptions continue to plague global supply chains
• High inflation is challenge for global central banks
• Threat of recession continues to rise each week
• Bear market could lead to issues with pension solvency
Blog – What is up with the Stock Market – WE September 23, 2022
There are 1.4 million
fewer Canadians living in poverty report Georgia Straight Vancouver's News & Entertainment Weekly.pdf
Daily Bread Food
Bank launches Thanksgiving drive as demand for food soars in Toronto CBC News.pdf
Middle Class.pdf PM to Davos 'Know
Canadians for our resourcefulness' - Macleans.ca.pdf
The Lithium Rush
Prices Soar As Electric Vehicle Demand Rises the deep dive.pdf
The war in Ukraine
has reshaped the world’s fuel markets The Economist.pdf
Texas natural gas
industry, Port of Corpus Christi leading in LNG production, exports State brenhambanner.com.pdf
U.S. business activity
remains subdued in September, S&P Global survey shows Reuters.pdf
Global PMI
Composite Flash comes in stronger than expected in September Seeking Alpha.pdf
Supply chain
imbalances will keep pushing logistics costs Hellenic Shipping News Worldwide.pdf
Stratfor The World's
Leading Geopolitical Intelligence Platform.pdf
ESG Reporting Don’t
Expect a Single Global Standard Anytime Soon Morningstar.pdf
Housing costs
crippling major Canadian cities CTV News.pdf
Fight Against
Inflation Could Orchestrate A Global Recession .pdf
Global Rate Hikes
Raise Contagion Risk Beyond Emerging Markets. Where to Look. Barron's.pdf
Ireland ranks second
in Global Food Security Index 2022.pdf
Stock Market News
Today Dow Sinks, S&P 500 Hits Closing Low for 2022.pdf
It’s Time to Bet Big on
Automation Markets Insider.pdf
September 2022
global poverty update from the World Bank 2017 PPPs and new data for India.pdf
50_ of Canadians
who struggle with food insecurity have a disability. We must act..pdf
Central banks continue to move the need on interest rates. The central banks fight on inflation could
lead to a recession.
Interest rates hikes will not address issues with productivity or lack of innovation or high costs of land
and construction materials
Trudeau’s carbon and other taxes continue to plague havoc with household budgets
2022 is setting up itself for a bad year for pension funds.
Justin Trudeau touts his record on poverty but what he never says is how many more people are having
to use food banks - https://www.cbc.ca/news/canada/toronto/toronto-daily-bread-food-bank-
thanksgiving-drive-1.6592258
Justin Trudeau also touts his record on supporting the middle class. The middle class has been struggling
ever since Trudeau was elected in 2015 - https://thehub.ca/2022-09-22/sean-speer-concerned-about-
economic-inequality-forget-taxing-the-rich-we-need-to-create-more-middle-class-jobs/
Canada GDP ranking within the G7 has also fallen. In the past the Liberals used to tout their GDP record
within G7. Lately that is no longer the case
Canada GDP growth ranking in G20 for 2Q22 is 14th
.
Trudeau told world in 2016 that Canada should be know for its resourcefulness -
https://www.macleans.ca/news/canada/what-justin-trudeau-plans-to-tell-davos/. I estinmate Liberal
policies have dropped the treasury revenue between $10B to 16B.
Trudeau and his team continue to tell Canadians hiking EI and CPP rates is good thing. The problem is
this about time. CFIB has warned Trudeau small businesses cannot afford these hikes -
https://www.slideshare.net/paulyoungcga/payroll-and-labor-related-issues-canada-september-
2022pptx
https://www.slideshare.net/paulyoungcga/what-is-up-
with-the-stock-market-for-we-september-23-2022pptx

23. CBO – REPORT – AUGUST 2022
Source – CBO

24. GDP AND BUDGET BALANCES
Source – USA Government

25. CORPORATE TAX AND THE UNITED STATES
Pillar 1 involves reallocation of profit and revised nexus rules and is concerned with what portion of profits should be taxed in the jurisdictions where clients or
users are located. Pillar Two contains an anti-base erosion mechanism to ensure that multinational enterprises pay a minimum level of tax.
“Pillar 2 will expand the taxable revenue collected globally from corporations by implementing a global minimum tax,” said Dicker. “They’re talking about a
minimum rate of 15%. The exact rate has not been decided yet. If a country where the effective tax rate is below 15%, then the home country where the
company is located can tax on the difference. For example, if a U.S. multinational is taxed in Ireland at 12%, then the U.S. can impose a tax to bring that
company up to the global rate. For any country that has a rate below15 %, the choice is to raise their rate or forgo the tax revenue and hand it over to the parent
to the parent country. Companies will be paying the same rate; it’s just a question of where they will pay it.”
Here is my updated work on the Office of Finance as it relates to audit, reporting challenges, managing the accounting standards, and other aspects of the
close, consolidate, and reporting cycle - https://ibm.box.com/s/x973uioy6ozwkzw7yvqaa07wdldp8gld
1. Business impact - https://www.mckinsey.com/business-functions/risk-and-resilience/our-insights/covid-19-implications-for-business
2. Data sharing - https://www.govtechreview.com.au/content/gov-digital/article/three-data-sharing-challenges-facing-public-sector-922138145
3. Digital - https://www.openaccessgovernment.org/embracing-a-new-era-of-public-sector-it-smart-sourcing/116903/
4. ESG - https://www.cfodive.com/news/companies-oppose-one-size-fits-all-sec-climate-disclosure-rule-survey/604547/
5. SPAC / restatements - https://www.cfodive.com/news/almost-90-percent-spacs-restate-financials/604267/
6. Cyber defense - https://cisomag.eccouncil.org/cisa-unveils-joint-cyber-defense-collaborative-to-boost-cybersecurity/
7. Fraud - https://www.quora.com/How-does-machine-learning-facilitate-fraud-detection
8. Real-time reporting - https://www.rtinsights.com/category/industry-insight/
9. Log analytics - https://neptune.ai/blog/machine-learning-approach-to-log-analytics
10. ESG - https://www.weforum.org/agenda/2021/08/now-time-for-action-on-sustainability-reporting/
Source - https://www.accountingtoday.com/news/international-agreements-spur-move-to-global-minimum-tax?position=editorial_1&campaignname=V2_ACT_Daily_20210503-
08102021&utm_source=newsletter&utm_medium=email&utm_campaign=V2_ACT_Daily_20210503%2B%27-
%27%2B08102021&bt_ee=Nq%2Fv7c3AMvoxz%2F6ThJ8wFssJSDsjTBGSjUtT53TmJ9QvzUau3wfriBrnT0c44gCN&bt_ts=1628589736714

26. GDP BY SECTOR

27. SOUTHERN
BORDER

28. USA INCOME
Personal Income and
Outlays.pdf

29. USA HOUSING

30. WHAT’S NEXT
• Ability of the United States along with other countries to roll out vaccinations as part of re-opening their
economy will be key over the next few months - https://www.slideshare.net/paulyoungcga/geopolitical-events-
vaccines-distribution-canada-march-20-2021
• All levels of government need to ensure their crisis/risk management reports are audited every year as part of
safeguarding assets from geopolitical events - https://www.slideshare.net/paulyoungcga/why-there-needs-to-
be-audited-reports-of-crisis-emergency-management-policies-and-procedures
• United States like many countries needs to review its policies related to the circular economy -
https://www.slideshare.net/paulyoungcga/how-to-maximized-the-circular-economy-244067365
• Aligning education with jobs of today and tomorrow will be key to supporting short-term and long-term
economic growth - https://www.slideshare.net/paulyoungcga/human-capital-management-skills-development-
analysis-and-commentary-february-2021
• Reforming global trade through modernization of WTO will be key part of reducing protectionism policies -
https://www.slideshare.net/paulyoungcga/merchandise-trade-usa-january-2021
• There needs to be global discussion on how best to reform both domestic and the global economy -
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-march-2021
Blog – Key Macro and Micro Indicators – United States – July 2022 and August 2022
USA GDP.pdf 20223009_Stock
Market.pdf
WHY AUSTRALIA
BENCHMARK REPORT JULY 2022.pdf
20223009_BMO_GD
P_Canada_July 2022.pdf
USA GDP has contracted for two consecutive quarters
Business automation spending continues to grow
USA continues to look at ways to expand LNG exports
Farmers continue to face challenges with crop yields
Housing market is facing enormous challenges over eighteen months
Inflation has been declining but more needs to be done to address systemic issues with inflation. Key
focus areas should be reeling government spending, tax, and regulatory reforms as part of addressing
issues with productivity
Innovation is another area that the private sector needs to do more investing as part of managing their
product lifecycles.
ESG risks and
geopolitics ranked top risks for mining companies – survey.pdf
The Last Rays of
Summer for Existing Home Sales.pdf
Final GDP reading
shows US economy shrank 0.6_ in the spring, cementing start of recession Fox Business.pdf
Crude Oil Modestly
Higher On Expectations For OPEC+ To Cut Production.pdf
US gas supporting
long, challenging climb of Atlantic Coast LNG developments S&P Global Commodity Insights.pdf
Manufacturers
Remain Staunchly Opposed to the Inflation Reduction Act NAM.pdf
Manufacturers
Feeling The Impacts Of Inflation And Supply Chain Challenges - MACNY.pdf
American Rare
Earths’ Supply Chain Vision - NXTmine.pdf
U.S. Metals and
Mining Industry Analysis.pdf
Global Food Supply
Outlook - Remains Tight with US Drought and Ukraine .pdf
U.S. August budget
deficit widens from a year earlier Reuters.pdf
U.S. weekly jobless
claims hit five-month low; economic picture darkening Reuters.pdf
Software Robots Are
Gaining Ground in White-Collar Office World - Bloomberg.pdf
Businesses need
these 'three core traits' if they hope to make automation a success IT PRO.pdf
Business Finance 7
Cost-Cutting Measures - StandingCloud.pdf
ESG Reporting
Services Market to Eyewitness Increasing Revenue.pdf
Inflation Is Driving
Up American Household Debt - Finance World.pdf
How high interest
rates are changing the housing market..pdf
Boise, Las Vegas, and
Phoenix look like housing busts—this interactive map shows the shift in your local housing market Fortune.pdf
US inflation
expectations drop to 18-month low ahead of Core PCE Price Index.pdf
Fed's Daly no U.S.
recession needed to defeat high inflation Reuters.pdf
1. GDP / USA - https://www.foxbusiness.com/economy/final-gdp-reading-shows-us-economy-
shrank-spring-cementing-start-recession
2. Oil https://www.barchart.com/story/news/10470886/crude-oil-modestly-higher-on-
expectations-for-opec-to-cut-production
3. LNG - https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-
gas/092922-us-gas-supporting-long-challenging-climb-of-atlantic-coast-lng-developments
4. Manufacturing - https://www.nam.org/manufacturers-celebrate-victory-in-nam-v-sec-
18947/?stream=series-press-releases or https://www.macny.org/manufacturers-feeling-the-
impacts-of-inflation-and-supply-chain-challenges/

31. OTHER
SOURCES
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning and,
development then feel free
to review my material on
https://www.udemy.com/
(search Paul Young CPA CGA

32. OTHER SOURCES
• You can additional information on USA via my SlideShare account -
https://www.slideshare.net/paulyoungcga