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Economic Commentary

Growth accelerates, but likely to be short-lived

December 13, 2022
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Highlights from the Monthly Review for November 2022:

It is the time of year for making lists and checking them twice, and this month’s economic review will be used for exactly that. For our purposes, economic indicators making the nice list will be those which are still driving growth (centered on consumer data), while the indicators getting a lump of coal in their stockings (including inflation and leading growth indicators) are contributing in some way to a slowdown or eventual downturn.

Economic Review

• Economic data are both naughty and nice entering the holiday season (pg 4)

Financial Markets

Market momentum builds to year-end (pg 5)

The Outlook

• The case for disinflation (pg 6)
Economic and financial markets December monthly review.


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