Weekly Market Snapshot – June 15th, 2020
Created by: Sam Tenney
- May inflation data came in at 0.1% growth for the trailing twelve months. Energy continues to weigh on inflation with a -18.9% contraction for the year, however food and medical services both rose sharply higher with 4.0% and 5.9% gains respectively.¹
- The United Kingdom Gross Domestic Product shrunk -20.4% in the first quarter, the largest loss on record for the country. The construction industry declined by 43.6%, which took the largest hit.²
- Beginning on July 31st, the additional unemployment benefits set aside for Americans during the COVID-19 CARES act, $600 every week, will be discontinued. “The $600 . . . is in effect a disincentive [to return to work]” the White House has said in response to questions regarding whether a new bill will be passed.³
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