Headlines discussed at LNWM’s Monday morning briefing:
— The US economy shrank by 1.4% in the first quarter of 2022 but main causes are received as temporary: 20% surge in imports and less inventory restocking.
— US consumer spending rose a healthy 1.1% in March, supported by the $2 trillion in excess savings accumulated during the pandemic.
— S&P 500 companies are expected to post 7% average earnings growth for 1st quarter 2022, the lowest growth rate since 4Q 2020; financial and consumer discretionary sectors showing losses.
— Covid-related lockdowns in China are affecting an estimated 80% of the country’s GDP, including 46 cities, and 343 million people.
— Germany is almost free of Russian oil imports and aiming to be free of Russian gas exports by mid-2024 mainly by building massive new liquified natural gas (LNG) terminals to store gas shipped from other countries.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.