- The document provides an analysis of key economic indicators in the United States for January and February 2023. It covers topics such as GDP, durable goods, retail sales, inflation, employment, trade, stock market, wages, housing, fiscal updates, and income. - Housing debt and affordability, access to critical metals, and supply chain disruptions continue to pose economic challenges. High inflation has also been difficult for central banks to address. - The threat of a recession has increased as bear markets could impact pension solvency and stability in the banking system remains a concern. Overall, the US and many countries face both short-term issues around high inflation and longer-term structural economic challenges.

1. KEY PERFORMANCE
INDICATORS FOR THE
UNITED STATES –
JANUARY 2023 AND
FEBRUARY 2023
Paul Young CPA CGA
April 1, 2023

2. PAUL YOUNG CPA CGA –
SENIOR DATA AND AI
SPECIALIST
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – ESG and Sustainability 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@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/

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. DECEMBER 2022
– GDP

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 U.S. Retail Sales No
Gas.pdf
A Summertime
Slump in Sales.pdf
A Real Bump in
Volumes.pdf

9. CANADA VS UNITED STATES INFLATION
PRESENTATION TITLE 9

10. OECD AND INFLATION

11. USA VS CANADA EMPLOYMENT

12. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 12

13. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 13

14. TRADE ANALYSIS
- USA
https://www.census.gov/fore
ign-trade/data/index.html

15. SUMMARY
• 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
PRESENTATION TITLE 15
Blog – Stock Market for the Week-Ending March 24, 2023
Summary:
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.56%, the Dow Jones Industrials Index
($DOWI) (DIA) closed up +0.41%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up
+0.30%.
Stock indexes Friday recovered from early losses and closed moderately higher. An
unscheduled Friday meeting of the Financial Stability Oversight Council (FSOC), convened by
Treasury Secretary Yellen, sparked short covering in bank stock. The FSOC issued a statement
late Friday afternoon that said “the U.S. banking system remains sound and resilient despite the
fact that some institutions are under stress.” Members of the FSOC include the heads of the
Federal Reserve, the Federal Deposit Insurance Corp, and several other regulatory agencies.
Bank stocks Friday initially opened lower and weighed on the broader market on continued
concern about the banking sector's stability. Treasury Secretary Yellen on Wednesday alarmed
the market when she said the U.S. government is not considering a “blanket” protection of
deposits. Ms. Yellen on Thursday had little success in damage control when she said that the
government is prepared for further steps to protect bank deposits if needed.
Source - https://www.barchart.com/story/news/15394768/stocks-close-higher-as-bank-stocks-recover
Bumpy trade week just ended for March 24, 2023 - https://finance.yahoo.com/news/stock-market-news-
live-updates-march-24-2023-123438023.html
Lithium continues to face both pricing and supply issues -
https://oilprice.com/Metals/Commodities/Latin-Americas-Bid-T
o-Challenge-Chinas-Dominance-In-The-
Lithium-Market.html
Oil falls - https://www.oilandgas360.com/oil-falls-as-us-holds-off-refilling-strategic-reserve/
LNG continues to face many challenges as it relates to capacity and pricing -
https://tanktransport.com/2023/03/lng-export-capacity-decline-global/
Food inflation continues to hammer household budgets -
https://www.timeslive.co.za/news/world/2023-03-25-brexit-sees-uk-food-inflation-hit-45-year-high-
data-shows/

16. CBO – REPORT – FEBRUARY 2023
Source – CBO

17. GDP AND BUDGET BALANCES
Source – USA Government

18. 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

19. GDP BY SECTOR

20. USA INCOME

21. USA HOUSING

22. ESG AND SUSTAINABILITY
Blog – Private Companies compliance with ESG and Sustainability Reporting -
https://www.linkedin.com/posts/paul-young-055632b_why-private-businesses-should-see-esg-reporting-
activity-7036083190767259648-2BFk?utm_source=share&utm_medium=member_desktop
Private companies will also be faced with compliance when it comes to ESG and Sustainability Reporting -
https://www.pwc.com/gx/en/services/entrepreneurial-private-business/publications/esg-reporting-
opportunity-for-private-businesses.html or https://claytonmckervey.com/esg-reporting-considerations-for-
private-companies/

23. IOT
Blog – Top 10 IoT (Internet of Things) Opportunities for 2023 - https://www.linkedin.com/posts/paul-young-055632b_frost-sullivan-highlights-top-10-iot-
growth-activity-7036087146054635520-zvzr?utm_source=share&utm_medium=member_desktop
https://www.canadianmanufacturing.com/manufacturing/frost-sullivan-highlights-top-10-iot-growth-opportunities-for-2023-289650/
1. Security & surveillance will lead the IoT market
2. Industrial IoT will become a hot topic
3. IoT will improve customer experience
4. IoT will play a major role in the metaverse
5. 5G and immersive technologies will boost market opportunities
6. Technology integration will drive LPWAN market growth
7. ESG will become a priority in the CEO agenda
8. MEC will be at the forefront of innovation
9. IoT providers should be ready for the new wave of digital payments
10. Industry collaboration will be critical for digital twins’ market growth
This will lead to more investment in data management solutions as part of generating real-time analytics to drive better business outcomes:
Close, consolidate, and reporting - https://ibm.box.com/s/ayrascrts6jwrqu0y7etia8a9b1nzv4o
Data Management - https://ibm.box.com/s/9ywac1v9au8txdb5u95ey51qcfsz5jwf
ESG/Sustainability - https://www.youtube.com/watch?v=qyFW4XMEim4
ESG/Sustainability - https://www.ibm.com/products/envizi/scope-1-2-ghg-accounting-reporting or https://www.ibm.com/products/envizi/scope-3-ghg-
accounting-reporting
Risk - https://www.ibm.com/common/ssi/ShowDoc.wss?docURL=/common/ssi/rep_ca/9/899/ENUSLP22-0109/index.html

24. WHAT’S NEXT
• United States like many countries is facing both short-term and long-term challenges