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Macro Shrink. Economic data continues to suggest the global economy is falling deeper into contraction. How will policymakers respond, and what implications will their decisions hold for your investment portfolio?
A slew of key U.S. economic data figures was reported this morning; chief among the releases were revised gross domestic product (GDP) estimates for the first quarter of 2024.
America’s growth for the first three months of 2024 was revised lower and is estimated to have occurred at an annualized rate of 1.3%, tumbling from the 3.4% rate enjoyed during the fourth quarter of 2023 and slightly below initial projections of 1.6%, simultaneously, these estimates had corporate profits revised substantially lower from a 3.9% quarter-over-quarter gain to a 1.7% decrease!
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