Thought Leadership

The Market in Five Charts: November 2023

Markets Pull Back

November 7, 2023 -  In this month’s Market in 5 Charts, Chief Global Strategist Rick Pitcairn tries to look on the bright side of things, although the current economic forecast is quite murky. Recent news headlines are quite scary with war breaking out in the Middle East and another going on in Ukraine. High interest rates, along with political and fiscal uncertainty in the U.S., continue to cloud the economic outlook. “The government has spent a lot of money and that’s propped up growth in the first three quarters of this year, Pitcairn says. While consumer consumption has been driving growth, consumers are worried about the future. “They continue to spend money, and that’s a good thing,” he says. “However, we think the underlying signs that consumer demand is weakening are evident.” 

 

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About Pitcairn

Pitcairn is a true family office and leader in helping families navigate the challenges and opportunities created by the interplay of family and financial dynamics. Through Wealth Momentum®, an experience-based family office model, Pitcairn helps families achieve a more effective and complete experience. Since its inception, Pitcairn has partnered with some of the world’s wealthiest families to meet their needs and drive better outcomes – year to year, decade to decade, generation to generation. Today, Pitcairn is recognized as an innovator, guiding families through generational transitions and redefining the industry standard for family offices. The firm is located in Philadelphia, with offices in New York and Washington, DC and a network of resources around the world.