The Monday Mix: May 8 – 14, 2023
— Despite a record amount of US consumer debt, the serious delinquency rate (overdue 90 or more days) was at just 1% during 1st quarter 2023.
— The US office vacancy rate was recently around 18%, the highest level in 30 years, due to recession fears and hybrid work.
— The average US tax refund will be about 9% lower in 2023 ($2,753), due to lack of economic impact payments last year and greater difficulty of deducting charitable contributions.
— The European Union’s economy is expected to grow 1% in 2023, with inflation of 5.8% but 2024 is expected to show inflation dropping to just 2.8% and growth rising to 1.7%.
— China’s carbon emissions will hit a new record in 2023 but they are expected to plateau soon based on push to install renewable energy sources.
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