— U.S. inflation rose at an annualized rate of 2.6% in May (per the Federal Reserve’s preferred indicator); this is the lowest level since March 2021, when inflation was at the Fed target of 2%.
— U.S. office vacancy rates are just under 20% currently but are likely to hit 25% in two years, per Moody’s commercial real estate report.
— Slightly over half (54%) of CFOs at top U.S. corporations say consumers cutting back on purchases is a key concern, with interest rates and stubborn inflation factors.
— France’s far-right (33%) and far-left parties (28%) prevailed over the centrist party of President Macron (21%) in the first round of Parliamentary elections, increasing the odds of a new Prime Minister after final vote on July 7; markets saw split vote as a positive.
— U.S. charitable donations dropped again in 2023 (by 2.1%), continuing a post-Covid decline that consultants attribute to inflation and personal finances (68% of donations are from individuals).
