According to the Commerce Department, U.S. gross domestic product grew at an annualized rate of 2.4% during Q2, well above the consensus estimate of 1.8%. Increases in consumer spending and nonresidential fixed investment, which includes spending on commercial real estate and equipment, led the growth of the economy in Q2. The economy withstood pressures from recession fears, higher interest rates, the Fed's hawkish policy tilt, and tighter bank lending standards. However, we believe growth will slow in the coming quarters as tighter lending standards and elevated interest rates take their toll.

Download Economic Perspective Chartbook
Legal Stuff

The information contained herein is intended to be used for educational purposes only and is not exhaustive. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but are intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax or financial advice. Please consult a legal, tax or financial professional for information specific to your individual situation. Material provided by Concenture Wealth Management.