2023 marked a year of restoring equilibrium in the market after grappling with global inflation, which also impacted the US. As we reflect on the conclusion of 2023, here are some key observations:

• Jobs Creation: Last year saw the creation of approximately 2.7 million jobs. Throughout 2023, the Federal Reserve actively combated inflation. Despite the challenges, there was an observed increase in average hourly earnings in the US, contributing to higher consumer spending.

• Retail Sales: The retail sector experienced its highest performance in three years, with the last two months of the year breaking records, surpassing $600 million. Americans capitalized on holidays like Thanksgiving for travel, setting travel records with about 150 million passengers screened by the Transportation Security Administration across US airports during this period. There was also increased spending on entertainment, contributing to the recovery of the U.S. box office, particularly with hits like Barbie ($636.2M), The Super Mario Bros. Movie ($574.9M), and Spider-Man: Across The Spider-Verse ($381.3M).

The optimistic results of 2023 provide a promising outlook for the year ahead in 2024.

Source: Gabriel Cortés, 2024 “The 2023 U.S. economy, in a dozen charts”, cnbc.com, January, 7th 2024, https://www.cnbc.com/2024/01/07/the-2023-us-economy-in-charts.html