The Milwaukee Company’s Economic Briefing Report is a weekly summary of economic indicators that have the potential of impacting stock and bond markets. Readings associated with a high level of risk for a number of the indicators listed below could suggest an elevated risk of a U.S. recession, and therefore a higher level of market risk. This Report is for informational purposes only and should not be regarded as a substitute for independent research and personalized investment advice.
Comments on this week’s report:
- Interest rate spreads narrowed as the 10-year treasury yield dropped roughly 12 basis points.
- Gross Domestic Product’s (GDP) annual growth rate ramped up to 3.04%, carried by an increase in consumer spending and still remains at a low level of risk.
- New orders of durable goods slowed down a bit, but is still growing at a strong 7.86% annual growth rate.
- Inflation, measured by the core Consumer Price Index (CPI) remains comfortably near the Fed’s 2.0% target.
- Personal Consumption Expenditures (PCE), another measure of inflation, was little changed as its annual growth increased from 1.96% to 1.97%.