U.S. Latino Economy Hits $3.2 Trillion in 2021, Ranks 5th Globally If Independent

U.S. Latino economic output reached $3.2 trillion in 2021, up from $2.8 trillion in 2020, according to a new report.
The Latino economy has grown 2.5 times faster than the non-Latino economy over the past decade.
If U.S. Latinos were an independent country, their GDP would rank 5th largest in the world.
California, Texas, and Florida drove major Latino economic growth due to strong population share and productivity.
Despite rapid growth, a substantial wage gap persists with Latino workers earning 80 cents for every $1 earned by white non-Hispanic workers.

cnbc.com

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Is the U.S. Economy Really Growing by 5.8%? Not So Fast

### Summary The US economy is forecasted to grow at a rate of 5.8%, causing concern for the Federal Reserve and those hoping interest rates will remain low. ### Facts - 🔥 The US economy is predicted to grow by 5.8% according to the Federal Reserve Bank of Atlanta. - 💸 Recent strength in retail sales, auto sales, housing starts, and industrial production have contributed to this economic forecast.

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Latinos' Growing Clout Reshaping Housing Market Despite Challenges

The growing Latino population in the US, with a projected increase to 100 million in the next 20 to 25 years, will have a significant impact on the housing industry, as this demographic generates a large amount of economic activity and will make up a larger share of homebuyers. However, Latinos face various barriers to entry, including lower homeownership rates, lower incomes, and affordability challenges. Efforts are being made to provide resources and programs to support Latino access to homeownership opportunities.

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Posted 9/27/2023, 11:46:05 AM

U.S. Latino Economy Hits $3.2 Trillion in 2021, Ranks 5th Globally If Independent

U.S. Latino economic output reached $3.2 trillion in 2021, up from $2.8 trillion in 2020, according to a new report.
The Latino economy has grown 2.5 times faster than the non-Latino economy over the past decade.
If U.S. Latinos were an independent country, their GDP would rank 5th largest in the world.
California, Texas, and Florida drove major Latino economic growth due to strong population share and productivity.
Despite rapid growth, a substantial wage gap persists with Latino workers earning 80 cents for every $1 earned by white non-Hispanic workers.

cnbc.com

Relevant topic timeline:

8/20/2023

Is the U.S. Economy Really Growing by 5.8%? Not So Fast

8/23/2023

Analysts predict 2.9% GDP growth in Mexico this year

9/6/2023

10 richest nations that are participating in G20 Summit

The USA is currently the world's largest economy with a GDP of over $23 trillion, followed by China, Japan, Germany, and India.

9/9/2023

Mexico Forecasts Slower Growth, Lower Inflation and Oil Prices in 2024 Budget

Mexico's finance ministry expects the country's economy to grow between 2.5% and 3.5% next year, with inflation slowing to 3.8%, according to a draft budget document released by the ministry.

9/28/2023

New report shows fast-growing economic clout of Latinx community in the U.S.

Latinxs have a combined gross domestic product (GDP) of $2.7 trillion, making it the fifth largest economy in the world, according to a report by the Latino Donor Collaborative.

10/3/2023

Elon Musk Tops Record-High Forbes 400 List as Trump and Others Fall Off

10/3/2023

Latinos' Growing Clout Reshaping Housing Market Despite Challenges