PREVIOUS WEEKS EVENTS

Announcements   

U.S. Economy

Job data for the U.S. released the previous week showed that the number of employed people during the previous month increased by 236K, more than expected but less than the previous month, and the unemployment reported rate at 3.5 for March. Slower increase if jobs and a relatively low unemployment rate is good news.

The Labor slowdown is expected since the Federal Reserve Fed has systematically increased interest rates committed to bringing inflation down. The report is aligned with expectations.

The IMF had conducted its meetings the previous week. During the meeting on the 11th of April, the IMF stated that the global growth rate is expected to be only around 3 in 5 years, considering that recent financial sector stresses are contained. In the short term, global growth is expected to be 2.8 this year and 3 in 2024.

The IMF forecasts an expanding United States economy, by 1.6 this year, and a growing Eurozone by 0.8. However, they are looking at a contraction by 0.3 for the United Kingdom.

The forecasts for growth are very low and no one expects the economy to return to prepandemic levels soon.

Source httpswww.cnbc.com20230407jobsreportmarch2023.html

Source httpswww.whitehouse.govbriefingroomstatementsreleases20230407statementfrompresidentjoebidenonmarchjobsreport

Source httpswww.cnbc.com20230411imfworldeconomicoutlookapril2023weakgrowthforecastsinflationhighuntil2025.html

Inflation

The previous week, the…