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Weekly Market Update

A High Government Spending Election Year

Head of North American Investment Strategy & Research

Insight of the Week

  • At the beginning of last year 2023, the real GDP growth estimate for 2023 was around .3% which then consistently headed higher throughout the year.
  • As we await 4th quarter results, current expectations for full year 2023 GDP growth are expected to land around 2.4%.
  • The resiliency of the economy was a surprise to many given a hawkish Fed that tried to cool the economy while bringing the policy rate up to 5.25-5.5%.

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