Monthly Market Reviews

Vantage Consulting Group regularly issues a Monthly Market Review. You may browse most recent Reviews below.

  • Market Review, May 2011
    Summary:

    The key theme of the month was a flight to safety in light of concerns surrounding the Eurozone sovereign debt crisis and slowing global growth. Risky assets including global equities and commodities fared poorly in May while “safer assets” including domestic treasuries, fixed income and...

  • Market Review, March 2014
    Summary:

    The Bureau of Economic Analysis (BEA) revised fourth quarter 2013 U.S. real GDP higher to 2.6%, from the second estimate of 2.4%. Real GDP growth in the fourth quarter came principally from personal consumption expenditures, exports, and nonresidential fixed investment. These were partly offset...

  • Market Review, June 2011
    Summary:

    The month of June was similar to the prior three months with markets swinging between risk-on and risk-off within a short span of time. Concerns over Greek sovereign debt and a slowing global economy dominated most of June leading to broad risk aversion. Risk appetite significantly increased...

  • Market Review, July 2011
    Summary:

    The U.S. second quarter real GDP increased at an annual rate of 1.3%, significantly lower than the 1.8% expected annual growth rate. Consumer spending (red bar in the graph below) decelerated sharply during the quarter, advancing at an annual rate of 0.1%, the weakest growth rate reported since...

  • Market Review, April 2014
    Summary:

    Growth of U.S. economy stalled during the first quarter of 2014 as real GDP increased at an annual rate of 0.1%, according to the initial estimate from Bureau of Economic Analysis (BEA). This is the second worst reading since emerging from the recession in mid-2009. The weak growth primarily...

  • Market Review, August 2011
    Summary:

    S&P downgraded U.S. sovereign credit rating from AAA to AA+ for the first time in history and placed the nation on negative outlook citing a broken political process. Economic data continued to be disappointing. The U.S. economy expanded at a slower pace than previously estimated during the...

  • Market Review, May 2014
    Summary:

    The U.S. economy contracted for the first time in three years as real GDP was revised to a negative 1.0% annual growth rate in the first quarter, according to the second release, down from an initial estimate of +0.1% and lower than the consensus of -0.5%. The primary drivers of the downward...

  • Market Review, October 2011
    Summary:

    Led by personal consumption, the U.S. economy picked up pace during the third quarter, growing at 2.5%, above the consensus estimate of 2.4%, according to the advance estimates released by the Bureau of Economic Analysis. With this rise, real GDP is now just above the previous high set in 2007....

  • Market Review, June 2014
    Summary:

    U.S. first quarter real GDP shrank at a 2.9% annualized rate (a.r.), down from -1% prior estimate (which itself was revised from 0.1% initial estimate), and well below the consensus contraction of -1.8%. This is the biggest quarterly contraction in five years and the largest downward revision of...

  • Market Review, November 2011
    Summary:

    The third quarter real gross domestic product was revised to a 2.0% annualized, down from the initial estimate of 2.5% and below the consensus of 2.4%, according to the second estimate released by the Bureau of Economic Analysis. The downward revision was primarily driven by a decline in...

  • Market Review, July 2014
    Summary:

    Economic data released in July was mostly positive. The U.S. economy, as measured by real GDP, grew at a 4% annualized rate (a.r.) during the second quarter of 2014, well above the 3% forecast, according to the advance
    estimate released by Bureau of Economic Analysis (BEA). The increase in...

  • Market Review, December 2011
    Summary:

    Third quarter real Gross Domestic Product was revised downward again. According to the third estimate released by the Bureau of Economic Analysis, third quarter GDP is reported to have increased 1.8% annualized, less than the 2.0% second estimate released in November and the 2.5% preliminary...

  • Market Review, August 2014
    Summary:

    U.S. second quarter real GDP was revised from 4.0% to 4.2% as private investment increased more than initially reported, according to the Bureau of Economic Analysis. The third quarter GDP growth is expected to be around 3%.

  • Market Review, January 2012
    Summary:

    U.S. real GDP grew at an annual rate of 2.8% in the final quarter of 2011, according to the advance estimate released by the Bureau of Economic Analysis. This was the fastest pace in the last five quarters although it was slightly lower than the consensus estimate of 3%. The acceleration in GDP...

  • Market Review, September 2014
    Summary:

    U.S. real GDP for 2Q2014 grew at a strong +4.6% rate, up about 0.5% from the prior estimate, according to the third estimate of the Bureau of Economic Analysis. Real GDP declined 2.1% during the first quarter. This upturn in real GDP primarily reflected increases in exports and private inventory...

  • Market Review, February 2012
    Summary:

    The U.S. fourth quarter real GDP grew by 3%, slightly above the initial estimate of 2.8%. Nonresidential fixed investment and personal consumption expenditure were higher than initially estimated.

    The headline and core Consumer Price Index (CPI) rose 0.2% in January. Year over year, the...

  • Market Review, October 2014
    Summary:

    The advance estimate of U.S. third quarter real GDP growth came in at a +3.5% annual rate (a.r.), higher than the expected 3.1%. The growth was less than the second quarter’s 4.6%, but stronger than the -2.1% during the first quarter. Net exports and personal consumption were the largest...

  • Market Review, March 2012
    Summary:

    U.S. fourth quarter real GDP was left unrevised at +3%, according to the third and final estimate of Bureau of Economic Analysis. This is the strongest growth in six quarters.

  • Market Review, November 2014
    Summary:

    U.S. third quarter real GDP growth was revised upward to a 3.9% annual rate (a.r.) according to the second estimate by the Bureau of Economic Analysis. The uptick in third quarter GDP reflected positive contributions from Personal Consumption Expenditures (PCE), residential/nonresidential fixed...

  • Market Review, April 2012
    Summary:

    Despite the mild winter, U.S. first quarter GDP came in at a 2.2% annualized growth rate, down from the 3.0% pace in the fourth quarter of last year and below the consensus of 2.5%. This has reignited debates about the sustainability of the recovery and the possibility of further Fed...

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