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Market Commentary

Market Commentary

Market CommentaryFor the week of January 30th, 2023ECONOMIC REVIEW1 Initial fourth quarter, real Gross Domestic Product (GDP) increased at a 2.9% annual rate, beating the consensus expectation of a 2.6% increase. Personal consumption, business fixed investment, and home building – referred to by some as “core” GDP – increased at a 0.2% annual rate – belying more material economic weakness than the headline figure would imply. The Personal Consumption Expenditure
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Market Commentary

Market CommentaryFor the week of January 9th, 2023ECONOMIC REVIEW1 The November JOLTS reports showed U.S. job openings continuing to stay high, coming in at 10.5 million, beating consensus expectations of 10.1 million. Quits topped 4.17 million and have surpassed 4 million for a record 18 months in a row.For each unemployed worker, there were 1.7 job openings in November, considerably above pre-pandemic levels of 1.2.New hires fell to 6.06 million, the smallest increase since February 2021.
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