Economic Update – November 10, 2023

Economic Update – November 10, 2023

1. WEWORK BANKRUPTCY, CRE IMPACT • On November 6th, co-working trailblazer WeWork filed for Chapter 11 bankruptcy, bringing additional unease to an office sector battered from the residual effects of the remote-work revolution. • Over the previous decade, including...

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Economic Update – October 27,2023

Economic Update – October 27,2023

1. GROSS DOMESTIC PRODUCT • Real GDP rose by 4.9% during the third quarter of 2023, its fastest pace since the fourth quarter of 2021, according to the advanced estimate from the Bureau of Economic Analysis (BEA). • Continuing the post-pandemic storyline, robust...

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Economic Update – October 13, 2023

Economic Update – October 13, 2023

1. SEPTEMBER JOBS REPORT • The US economy added 336,000 new jobs in September, according to the Bureau of Labor Statistics, almost double the consensus forecasts. The unemployment rate remained unchanged at 3.8%. • September’s employment growth was the highest since...

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Economic Update – September 29,2023

Economic Update – September 29,2023

1. INTEREST RATE DECISION/ECONOMIC PROJECTIONS • At its September 20th meeting, FOMC officials left their benchmark interest rate unchanged, just their second pause since they began tightening rates in March 2022. • Markets and onlookers were well-prepared for the...

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