Economic Updates
Keep up to date on the global economy and its impact on markets.
Markets wrestle with policy versus the pandemic
Q2 2020 | Capital Markets Outlook
We are looking for progress in public health and credit market indicators as policy responds to the economic shock surrounding the pandemic and efforts to contain it.
Q2 2020 | Fixed Income Outlook
An extremely sharp global downturn is unfolding as the coronavirus pandemic takes a toll on economic activity and sentiment.
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Q3 2020 | Equity Outlook
We discuss the potential impact of a second wave of the coronavirus and we offer insights on how businesses are faring as COVID-19 restrictions are eased.
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Economic Update for June 29, 2020
Economy
- In its third estimate, the Bureau of Economic Analysis reported that GDP decreased at an annual rate of 5.0% in the first quarter.
- Durable goods orders rose 15.8% in May, the Census Bureau stated in an advance report.
- The trade deficit increased in May, the Census Bureau noted in an advance report.
- Wholesale inventories dropped 1.2% in May.
Employment
- Initial claims reached 1.48 million in the week ended June 20, 2020, according to the Department of Labor.
Profits
- As of June 19, 2020, of the 500 S&P 500 Index companies reporting first-quarter earnings, 329 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The Bureau of Economic Analysis found that corporate profits fell 12.3% at a quarterly rate in the first quarter.
Emotion
- The University of Michigan’s final reading of its index of consumer sentiment rose to 78.1 in June from 72.3 in May.