Top-of-mind economic news as we start the week:
— U.S. inflation-adjusted GDP fell 0.9% in 2nd quarter 2022, after a 1.6% drop 1st quarter, indicating country is technically in a recession.
— The Federal reserve raised its key interest rate another 75 basis points, increasing the rate’s upper bound to 2.5%.
— Sales of new single-family houses in the U.S. dropped to a two-year low in June, despite prices falling 12% since April.
— Germany’s retail sales fell 1.6% in June, and are down 8.8% over the past 12 months, the biggest annual drop since tracking began in 1994.
— Sustainable bond issuance in 2nd quarter 2022 hit a record 15% share of global total issuance, per Moody’s ESG Solutions.
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.