In June and July of this year, the Fed raised the interest rate at the fastest pace in forty years: it raised the federal funds rate 75 basis points at each open market committee meetings. Why did it do so, and what do its actions and current economic data say about the economy? This report will investigate and answer these questions, as well as explore the thinking that is guiding the Fed’s policies and explain…
2023 Q2 Economic Report
GDP GROWTH: The Commerce Department said the U.S. economy grew at a 2.4% annual rate in the second quarter, an increase from the 2% gain in Q1, defying both expectations and attempts by the Federal Reserve to slow it down to curb inflation. Economists are now scaling back their prediction that national output will be pushed into a recession this year due to recent interest rate hikes by the Federal Reserve to reduce inflation. The…
2023 Q2 North America Market Report
INDUSTRIAL OVERVIEW: INDUSTRIAL GROWTH ON TRACK FOR LEAST GAIN IN YEARS In a reversal from the ballooning logistics capacities required during the pandemic, demand for space has slowed across North America. After continuously rebuilding inventories from the fall of 2021 through Q3 last year, many retailers and wholesalers are taking a breather, pausing further inventory accumulation out of caution over the economic outlook. In the U.S., second-quarter net absorption was down 58% year over…