Meeting Notes

A Timely Update on the Macroeconomic Environment

Summary of the Presentation at the Cincinnati NIRI Chapter Meeting on March 26, 2013

The Cincinnati Tri-State Chapter of NIRI held its third meeting of the season on March 26, 2013. NYSE Euronext sponsored the event, including a terrific dinner at Jeff Ruby’s Carlo & Johnny. Kamal Hosein, CFA, who is head of strategies and analytics for national broker Sterne Agee, led an engaging discussion regarding economic trends. The discussion included a presentation entitled “An overview of the State and Future of Economic Growth”. Below are several key points from the presentation and related discussion.

  • Sluggish recent US economic growth is a theme investors will likely have in mind, so Investor Relations Officers should consider that as they communicate with the investment community.
  • Anemic GDP growth for 4Q 2012 reflected some unusual factors not necessarily indicative of longer-term trends, such as sharp decreases in defense spending.
  • Consumer confidence and recent upturns in housing prices are being reflected by slowly rising retail sales.
  • Important items to watch for 2013 include:
    • Business inventory growth,
    • Housing market rebound sustainability,
    • European economic stability,
    • U.S. labor market recovery,
    • Fiscal cliff and sequestration.

The presentation from the meeting is available here.