May – June 2023

U.S. Economic and Market Highlights

THE ECONOMY

  • The economy looks strong, and in the second quarter, the consensus expects real GDP to grow around 2% in the U.S. Consumption in the first quarter was the strongest since early 2021, powered by the labor market and fading inflation. Food and energy price inflation had hit households particularly hard.
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March – April 2023

U.S. Economic and Market Highlights

THE ECONOMY

  • The latest U.S. Inflation Report indicates that the Fed’s Approach is working to tame inflation, but slowly. The all-items inflation index increased 5.0% for the 12 months ending March; this was the smallest 12-month increase since May 2021. Core CPI (all-items less food and energy) index rose 5.6% because energy decreased 6.4% and the food prices increased 8.5% over the last year.
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