Here is my latest look at the United States. Summary United States GDP dropped for second straight quarter. Over 11M job vacancies across the United States Inflation continues to remain high. The Federal Reserve has commented that it will take years to bring down the inflation rate to 2%.

1. KEY PERFORMANCE
INDICATORS FOR
THE UNITED STATES
– JUNE 2022 AND
JULY 2022
Paul Young CPA CGA
August 31, 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
gdp2q22_2nd.pdf
Cdn GDP One Last
Reopening Gasp.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
/28fc76ba-ec67-4139-b7be-89b1a2a53ca8/
BMO -
https://economics.bmo.com/en/publications/detail/495
73e1b-9a30-4470-bc00-97de644d0b60/
BMO - USA Retail
Sales - July 2022.pdf
BMO - Retail Sales -
Canada - June 2022.pdf

9. DURABLE GOODS / KEY AREAS – USA
Source - https://www.census.gov/economic-indicators/index.php
Durable Goods -
Census - USA.pdf

10. 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 - July
2022.pdf

11. OECD AND INFLATION

12. BMO – CONSUMER PRICE INDEX
Source –
https://economics.bmo.com/en/publications/detail/59bc
dce2-374d-45fa-81bb-461f507a3ef5/
Inflation - USA - BMO
- July 2022.pdf
BMO - Inflation - CPI
- Canada - July 2022.pdf
Canada -
https://economics.bmo.com/en/publications/d
etail/c8a3a857-a963-4582-8aa6-
2e730b652b2c/
BMO - Inflation - July
2022 - Canada.pdf

13. USA VS CANADA EMPLOYMENT BMO - Employment -
Canada - July 2022.pdf
U.S. Nonfarm
Payrolls (July) — Conquering the Peak.pdf

14. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 14
Employment - USA -
July 2022.pdf

15. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 15
Employment - USA -
July 2022.pdf

16. TRADE ANALYSIS
- USA
https://www.census.gov/for
eign-trade/data/index.html
Trade - USA June
2022.pdf

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. SUMMARY
PRESENTATION TITLE 21
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 – Stock Market performance for the WE August 25, 2022
BMO - https://economics.bmo.com/en/publications/detail/a1067254-8ff8-4865-8c8d-c4ba4e2c5903/
WestpacWeekly2022
0822.pdf
Personal Income and
Consumption - US A.pdf
BEA - Personal
Income and Consumption.pdf
BottomLine_2022082
6.pdf
globalweekahead202
20826.pdf
20222608_S tock
Market_BMO.pdf
Housing Costs.pdf Housing slump.pdf China and GDP
outlook.pdf
GDP - US A - July
2022.pdf
Commodities -
20222608.pdf
Commodities and
Government.pdf
Mexico and
Lithium.pdf
Germany and Canada
- Hydrogen - 20222606.pdf
Insurance and H2.pdf LNG and Canada.pdf LNG and Canada
Failures.pdf
Oil Pr oduction and
OPEC.pdf
https://www.slideshare.net/paulyoungcga/what-is-up-
with-the-stock-market-for-we-august-26-2022pptx

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 – Stock Market WE July 22, 2022
These Tech
Advancements Will Help You Take Your Business to the Next Level - EnosTech.com.pdf
Stock Market Rises In
Constructive Session; Tesla Nears Three-Week High Investor's Business Daily.pdf
Nvidia (NVDA)
Outpaces Stock Market Gains What You Should Know Nasdaq.pdf
Global Forecast -
BNS - 20222207.pdf
China's GDP expands
2.5_ in H1 - CGTN.pdf
China GDP Slows to
.4_, What Does that Mean for Future Demand AgWeb.pdf
Recession Now
Appears the Price to Pay for Beating Inflation.pdf
Strong US Dollar,
Trade Gap, Worse Inflation Globally - Bloomberg.pdf
Russia Is Working to
Create Own Price Benchmarks for Commodities - BNN Bloomberg.pdf
The commodity
supercycle is already crashing, blunting Canada’s growth and bruising the TSX - The Globe and Mail.pdf
The Unassuming
Economist Housing Market in Singapore.pdf
The State of Global
GHG Scope 3 Reporting - ESG Enterprise.pdf
Accounting industry
resilient, surpasses pre-pandemic levels StatCan.pdf
Europe's Disarray
Affects The US Economy And Geopolitics - An Opportunity In Peace Seeking Alpha.pdf
The world isn't ready
for the looming emerging-market debt crisis - Atlantic Council.pdf
Robert Lighthizer Has
a Protectionist’s Blind Spot - WSJ.pdf
India on course to
become world's fastest-growing economy, says RBI Reuters.pdf
How circular
materials can support the net-zero agenda McKinsey.pdf
Top Technology
Trends 2022 Mytechblog - My Tech Blog.pdf
US and 17 Allies
Attack Supply Chain Disruption, Sustainable Materials – Sourcing Journal.pdf
WestpacWeekly.pdf Global Forecast -
BNS - 20222207.pdf
economic-news-retail
-sales.pdf
monthly-economic-m
onitor.pdf
Lithium Americas
marks opening of lithium technical development center in Nevada - Canadian Manufacturing.pdf
Entreprendre
Sherbrooke receives over $450K from federal government - Canadian Manufacturing.pdf
Federal government
invests in supply chain capacity at Edmonton airport - Canadian Manufacturing.pdf
National retail sales
rose 2.2 per cent in May 2022 - Canadian Manufacturing.pdf
Federal government
invests over $2.5M in cleantech companies in southern Ont. - Canadian Manufacturing.pdf
Digital doubles In the
future, virtual versions of ourselves could predict our behaviour - Canadian Manufacturing.pdf
Economic
Indicators.pdf
weekly-economic-wat
ch.pdf
weekly-us-rec-dashb
oard.pdf
boc-policy-monitor.p
df
CFO to CEO Lean Into
the Unfamiliar.pdf
Bear in Mind.pdf
https://economics.bmo.com/en/publications/detail/fbfa4fe2-8827-4a68-801b-798c27b43167/
Summary:
U.S. stocks sank on Friday, dragged down by tech as social media weighed on the sector, but the
three major indexes closed out gains for the week.
At 4:08 PM ET, the Dow Jones Industrial Average was down 137 points, or 0.4%, while the
S&P 500 was down 0.9%, and the NASDAQ Composite fell 1.9%.

23. CBO – REPORT – JULY 2022
Source – CBO
CBO - Fiscal - July
2022.pdf

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 – Scorecard – Key Performance Metrics – The United States – June 2022 and July 2022
gdp2q22_2nd.pdf RBC Royal Bank and
GDP.pdf
Cdn GDP One Last
Reopening Gasp.pdf
Personal Income and
Outlays.pdf
Summary
United States GDP dropped for second straight quarter.
Over 11M job vacancies across the United States
Inflation continues to remain high. The Federal Reserve has commented that it will take years to bring
down the inflation rate to 2%.
What the Colorado
River Water Shortage Means for the U.S. — ProPublica.pdf
Top 10 AIIoT Trends
and Predictions to Look Out for in 2023.pdf
Top 10 Intelligent
Automation Trends to Lookout For in 2023.pdf
US Incomes,
Spending Post Sluggish Gains Even as Inflation Eases - BNN Bloomberg.pdf
American Rescue
Plan Providing Relief for Union Workers and Retirees AEBA.pdf
States that spend the
most on roads have some of the worst roads in America MoneyGeek.com.pdf
U.S. murder rates
stayed high last year but trend may be reversing.pdf
USA Job
Vacancies.pdf
Hospitality leads
employment growth in July Hotel Management.pdf
LNG Export In US To
Explore More Market Opportunities - mfame.guru.pdf
US Set to Ship
Record Crude Into 2023 as Energy Crisis Deepens - Bloomberg.pdf
Food Exports -
USA.pdf
Will Take 'A Few
Years' To Get US Inflation Back To 2_ Fed Official Barron's.pdf
Household debt tops
$16 trillion as inflation surges and rates rise & More Live News - NewsTimes.com.ng.pdf
How Renting Has
Changed Since The 2000s Housing Bubble And Great Recession.pdf
As More States
Follow California in Banning Sales of New Internal Combustion Engine Vehicles, Critical Minerals Demand Will Increase, NioCorp Says - Junior Mining Network.pdf
China’s Stimulus
Helps to Lift the Gloom Over Steel Markets - BNN Bloomberg.pdf
Exclusive Amogy on
ammonia for US hydrogen hubs.pdf
Green Energy Credits,
Carbon Offsets Due for Clearer Accounting.pdf
Slim new car
inventory keeps prices and profitability soaring.pdf
State Growth And
Debt Rank for 2022 - Charts.pdf
US to see renewable
energy boom in wake of historic climate bill Renewable energy The Guardian.pdf
1. Employment - https://www.hotelmanagement.net/operate/hospitality-leads-employment-
growth-july
2. LNG - https://mfame.guru/lng-export-in-us-to-explore-more-market-opportunities/
3. Oil https://mfame.guru/lng-export-in-us-to-explore-more-market-opportunities/
4. Food https://www.ers.usda.gov/topics/international-markets-u-s-trade/u-s-agricultural-
trade/outlook-for-u-s-agricultural-trade/
5. Inflation - https://www.barrons.com/news/will-take-a-few-years-to-get-us-inflation-back-to-2-
fed-official-01661877906
6. Household Debt - https://www.newstimes.com.ng/household-debt-tops-16-trillion-as-inflation-
surges-and-rates-rise-more-live-news/
7. Housing - https://www.forbes.com/sites/andrewdepietro/2022/08/31/how-renting-has-
changed-since-the-2000s-housing-bubble-and-great-recession/?sh=6c4f00203c76
8. Critical metals - https://www.juniorminingnetwork.com/junior-miner-news/press-releases/391-
tsx/nb/127099-as-more-states-follow-california-in-banning-sales-of-new-internal-combustion-
engine-vehicles-critical-minerals-demand-will-increase-niocorp-says.html

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