The Monday Mix: May 23 – 29, 2023

hand holding a coffee cup and newspaper

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

U.S. default can be avoided if Congress approves the Memorial Day weekend deal suspending the federal debt ceiling and lowering spending by June 5.

U.S. inflation is still rising as measured by the Personal Expenditures Index (PCE), which rose 0.4% in April and is up 4.7% from a year ago.

U.S. home prices were up 0.7% in March from a year ago, as limited supply continues to outpace demand, despite higher mortgage rates.

The German economy officially entered recession going into 2nd quarter 2023, as inflation hurt consumer spending.

94% of companies said they plan to comply with the EU’s Corporate Sustainable Reporting Directive – even if they don’t need to.

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