World Bank Lowers Global GDP Forecast for 2024

By Tom Burnett CFA On June 6, 2023, the World Bank released its updated GDP Forecast report for 2023 and 2024. This report updates the January 2023 Forecast report. The Bank now projects World growth of 2.1% this year, down from 3.1% in 2022. The forecast for 2024 is for growth of 2.4%, down from...

By Tom Burnett CFA On June 2, 2023, the Bureau of Labor Statistics released its employment report for May 2023. Total nonfarm, payroll employment increased by 339,000 to a record level of 156.1 million, some 3.8 million higher than one year ago. The unemployment rate rose from 3.4% in April to 3.7% in…

By Tom Burnett CFA On May 11, 2023, the Bureau of Labor Statistics released the PPI report for the month of May. The PPI rose 0.2% in April, after a decline of 0.4% in March. For the 12-month period ending in April, the Index rose by 2.3%, the smallest 12-month increase since late 2021. In...

By Tom Burnett CFA On May 10, 2023, the Bureau of Labor Statistics released its Consumer Price Index report for April. The CPI increased 0.4% in April, following an increase of 0.1% in March. Over the past 12 months, the Index has risen 4.9%, the smallest 12-month increase since April 2021. The Energy…

By Tom Burnett CFA On May 5, 2023, the Bureau of Labor Statistics released its Employment Report for April. Total Employment increased by 235,000 to 155.6 million workers. The average monthly gain for the previous six months was 290,000. The unemployment rate was unchanged in April at 3.4% and the rate…