Macroeconomic & Market Review- 28 November 2022

Ed Sullivan, Macro Economist, provides his broad macro views while Bo Brownlee, Global Equity Strategist, provides his views on globalization trends.

There are some signs of near-term resilience in most recent economic reports, however, significant challenges remain ahead.
Latest data with notable exception of China largely exceeded expectation, the US is on track for 3% growth rate over current quarter.
A contributor to the above-average earnings growth experienced in recent decades has been the lower costs through increased globalization.
However, this is not the case for the non-Tech sector, where their margins have remained unchanged for the last two decades.