IMF Lowers Global Growth Forecast for 2024

By Tom Burnett CFA On October 10, 2023, the International Monetary Fund (“IMF”) lowered its 2024 global growth forecast from 3.0% to 2.9%, leaving its projection for 2023 growth at 3.0%. Growth in 2022 was 3.5%. World Consumer Prices are now forecast to rise by 6.9% this year and 5.8% in 2024. In…

By Tom Burnett CFA On October 6, 2023, the Bureau of Labor Statistics released its Employment Report for September. Total employment rose by 336,000 jobs to a new total of 157.1 million. The unemployment rate was unchanged at 3.8%. The number of unemployed workers was also unchanged at 6.4 million. In…

By Tom Burnett CFA On September 20, 2023, the Federal Reserve Open Market Committee (“FOMC”) announced that it will leave current Fed Funds rates at the range of 5.25%-50%. The announcement was accompanied by a set of quarterly projections which suggest that further rate hikes will be necessary to…

By Tom Burnett CFA On September 13, 2023, the Bureau of Labor Statistics reported that consumer prices rose by 0.6% in August. The increase for the prior month was 0.2%. The August increase was the largest monthly advance so far this year. For the 12 months ending in August, the CPI rose 3.7%, up from…

By Tom Burnett CFA On September 1, 2023, the Bureau of Labor Statistics released the Employment Report for August. Total nonfarm payroll employment increased by 187,000 jobs and the unemployment rate rose from 3.5% in July to 3.8%. The number of jobless workers seeking employment rose by 514,000 to 6…