Insights

Investors concerned the Fed may become more hawkish as US economy remains resilient

6 October 2023

This week was a good week for US employees, business owners and, in normal circumstances, it should have been a good week for investors. US business created almost 340,000 new jobs last month, far more than expected. The number of people quitting their jobs increased slightly but this remains well below the recent average, while US manufacturing has remained far more resilient than expected. Business activity in the UK and Europe, as captured by the monthly Purchasing Managers’ Indices, was also better than expected and inflation continues its steady decline.