US Business Newsletter

June 01 - June 30, 2023

Greetings from Consulate General of India,

New York!

Welcome to the June 2023 edition of our newsletter, bringing you important policy and high-impact news.

We hope you find it useful.

U.S. Is Top Investment Destination Despite Falling Inflows

 Despite a decrease in foreign investment inflows, the United States remains the top global investment destination. In 2020, FDI inflows to the U.S. declined by 49% due to factors like the COVID-19 pandemic and geopolitical tensions. However, the country's strong economic fundamentals, consumer market, technological innovation, and political stability continue to make it an attractive choice for investors.

 The U.S. economy has displayed unexpected strength in the first half of 2023. Despite prior concerns, economic indicators reveal a robust performance. Factors contributing to this positive outcome include robust consumer spending, a rebound in business investment, and a surge in job creation. The unexpected vigor in the U.S. economy during the first half of 2023 highlights a promising outlook for economic recovery and growth.



The US labor market cooled off in June, adding just 209,000 jobs

 The US job market cooled back down in June, adding just 209,000 jobs, and fueling optimism that the economy is on course to nail that elusive soft landing of lowering inflation without triggering a recession. The June job gains, released Friday by the Bureau of Labor Statistics, were nearly 100,000 positions below May’s stronger-than-expected showing of 306,000 and fell below economists’ expectations for a net gain of 225,000 jobs. It’s the lowest monthly gain since a decline in December 2020, and — excluding the losses seen during the first year of the pandemic — June’s total is the smallest since December 2019. That being said, last month’s job growth still outpaces the pre-pandemic average. The unemployment rate ticked down to 3.6% from 3.7% the month before, according to the report.

Meta’s Threads App Sees Early Success, Drawing Advertiser Interest & Twitter’s Ire

 Advertisers are eager to tap into Meta's Threads and engage with users in the virtual reality realm. The platform's ability to offer interactive experiences has captured the interest of advertisers seeking novel ways to connect with their target audience. Meta's Threads showcases the emerging trend of advertising opportunities within the virtual reality landscape.