Top-of-mind economic news as we start the week:
— The US economy grew 2.9% annualized in 4th quarter 2022, vs. 2.7% anticipated, despite weaker consumer spending.
— US inflation measured by “Core Personal Expenditures” (minus food and energy), was 4.4% annualized in Dec. vs. 4.7% in Nov. (Fed target is 2%).
— Europe’s manufacturing and services sectors expanded slightly in Dec. 2022, after being in contraction mode since June, per a key index.
— A world-leading 1.6 million patents were filed by the Chinese in 2022, but few were for original innovations in key sectors, per patent experts.
—India’s first-ever issuance of “green” bonds (clean energy, etc.) met with strong demand, selling at a premium to regular debt.
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