Top-of-mind economic news as we start the week:

— The U.S economy grew a strong 4.9% in the 3rd quarter, the fastest pace since 4th quarter 2021, despite higher interest rates and  inflation.

— Sales of new U.S. home sales rose 12.3% in Sept. while prices are down 12% from a year ago; lack of existing home inventory is driving interest in new homes.

— U.S. inflation as measured by the Fed’s key gauge rose 0.3% in Sept. and is running 3.7% annualized; consumer spending topped estimates.

— The European Central Bank left its key interest rate unchanged (after 10 straight increases in past year), with inflation at roughly 4%.

— Renewable energy will provide half of the world’s electricity by 2030, per the Int’l Energy Agency, but that will not be enough to stop global warming.

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.