Weekly Market Recap – August 28, 2023

Chart of the Week 08-28-2023

Earlier this year, investors largely anticipated that U.S. economic activity, specifically capital spending, would slow due
to the lagged impact of tighter monetary policy. Instead, however, the economy has remained resilient and real
nonresidential fixed investment grew 4.6% y/y in 2Q, largely driven by spending on structures and intellectual property.

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