The IMF Raises Global GDP Growth Estimates

By Tom Burnett CFA On January 30, 2023, the International Monetary Fund (“IMF”) issued its revised estimates for global GDP growth in 2023 and 2024. The latest forecast is an update from the prior report issued in October 2022. The IMF now sees global GDP growth of 2.9% this year, compared to its…

By Tom Burnett CFA On January 18, 2023, the Bureau of Labor Statistics released its report on the Producer Price Index for December 2022. The PPI declined by 0.5% in December, after advancing by 0.2% in November and by 0.4% in October. Over the past 12 months, the PPI rose 6.2%, following an increase…

By Tom Burnett CFA On January 12, 2023, the Bureau of Labor Statistics released its Consumer Price Index report for December 2022. The CPI fell by 0.1 %, the lowest reading in more than 13 months. Over the past six months, the average monthly increase has been 0.15% with the highest readings in September…

By Tom Burnett CFA On January 10, 2023, the World Bank issued its 2023 “Global Economic Prospects” report which lays out its view that an economic slowdown is expected in most regions this year. This forecast will be updated in June, but the message is clear, the Bank is looking for reduced GDP growth…

By Tom Burnett CFA On January 6, 2023, the Bureau of Labor Statistics released the employment data for December 2022. Job totals rose by 223,000 from the prior month. Total nonfarm employment now stands at 153.7 million, a post-Covid high. The unemployment rate is now 3.5%, down from 3.7% in the previous…