Midyear 2023 Economic Insights

As we stand mid-year in 2023, fears of a looming recession have greatly diminished. The US economy, supported by robust financial activities and resilient market behavior, is showing significant signs of strength. Encouraging trends across various economic indicators further reinforce our optimism.

Let's delve into the details:

S&P 500's impressive 18% rally in 2023 pales compared to NASDAQ's tech-driven 36% surge.

Inflation has cooled off, falling to 3% in June 2023 from a high of 9.1% a year earlier. The Consumer Price Index (CPI), excluding food and energy, also saw a decrease to 4.8% in June 2023, down from 5.3% in the previous month.

Consumer Sentiment rebounded to 72.6 from the low of 50 in June 2022; the Industrial Production Index also remained robust.

Job Market: Even though job openings have dropped, unemployment levels are near record lows, indicating a mixed job market.

To Discover more indicators and better understand the current economic landscape, click here.