Uncategorized / 09.14
Shapiro – September 2023 Market Insights
WASTED AWAY IN ECONOMICVILLE Interest rates are the highest they have been in over 20 years. The labor market remains strong and tight. Consumer spending in July, excluding gas and autos, rose by 1%, twice the consensus forecast. Adjusted wages topped inflation for the first time in two years. Consumer confidence is strong. Car sales are robust. There is still a shortage of new homes with strong demand. The Atlanta Fed GDPNow tracker forecasts 5.6% growth for Q3 GDP. The stock markets are near record highs since falling 22% last year. Oh, and inflation is dropping.