US economy is slowing, but consumers are still spending, labour market is still tight
The US economy is slowing, but prices are still rising, people are still spending, the labour market is still tight. NAB’s Ken Crompton talks about the challenges the Fed faces right now.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 28th April 2023
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Today NAB’s Ken Crompton joins Phil to talk through the latest GDP numbers from the US, reinforcing signs that the economy is slowing. But markets preferred to focus on the PCE read, showing prices are still rising, and the latest jobless claims which demonstrate how the labour market is easing at a glacial speed. Meanwhile equities are pushing higher helped by the latest earnings results, with Intel and Amazon the latest to report strong results. The focus today will be on how European GDP compares to the US slowdown, and the detail of the US employment cost index.
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