December 2023

U.S. Economic and Market Highlights

The Economy

  • Eurozone manufacturing (PMI – Purchasing Manager’s Index) showed the 18th consecutive month of contraction for December, coming in at 44.4 compared to the market consensus of 44.2. A PMI reading over 50 or 50% indicates growth or expansion.
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September – October 2023

U.S. Economic and Market Highlights

THE ECONOMY

  • Real gross domestic product (GDP) in the U.S., E.U., and Asia varied in the third quarter.
GDP growth rates in 3Q-2023    U.S. 4.9%E.U. -0.1%Asia 3.9% est.

o   The different growth rates reflect the economic reality in these regions. U.S. saw increased consumer spending and inventory investment in the third quarter, but with higher interest rate pressures the economic activity is starting to show signs of a slowdown.

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