Top-of-mind economic news as we start the week:
— The S&P 500 stock index flirted with bear market levels — minus 20% since the latest top — on fears of recession and rising inflation.
— China’s economy is forecasted to grow just 2% in 2022 due to Covid-19 lockdowns; if that is the case, the US might surpass China’s growth rate for the first time since 1976.
— Sales of US existing home for April 2022 dropped 2% from March, slowing to pre-pandemic levels on record high prices.
— Claims for US unemployment benefits edged up to 218,000 in latest week, highest level since January.
— Germany, Netherlands, Belgium and Denmark agreed to invest 135 billion euros in offshore wind turbines to generate 150 gigawatts of renewable energy by 2050.
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.