Gaveling into Session

MESSAGE FROM THE PRESIDENT

January 8, 2024

Welcome to 2024! We have a great year ahead of us and look forward to our shared success. 2024 forecasts for the U.S. economy are in and things are reportedly positive. However, before we jump ahead, it’s important to look at the year that just ended and take account of things.

In a Sunday morning CNBC story titled "The 2023 U.S. economy in a dozen charts,” they note that the U.S. labor market added 2.7 million jobs last year. However, labor shortages and a “skills mismatch” remain and are more pronounced than ever as more Baby Boomers depart the workforce. The article notes that “consumer spending remained robust throughout the year, with bright spots in travel and entertainment.” In fact, from Thanksgiving through the end of the year, “nearly 150 million passengers were screened by the Transportation Security Administration across U.S. airports.” You can see a few highlights below, but be sure to view all twelve interactive charts by clicking here.

We are excited about the opportunities that lie ahead in 2024 and are eager to collaborate with our members throughout the year to navigate challenges and capitalize on the positive trends in Delaware this year.

News You Can Use

This is a relatively quiet week for economic data, but that will pick up in the coming weeks as more EOY 2023 data emerges. Starting off this afternoon, November consumer credit data becomes available. The U.S. trade deficit is the subject of reporting Tuesday as November results are released. Thursday brings us the December Consumer Price Index (CPI), while the Producer Price Index or PPI is out Friday morning.

Accolade and Helen of Troy lead off this week's earnings calls, followed by Albertsons, Neogen, Tilray, and good old WD-40 on Tuesday. The notable call on Wednesday is homebuilder KB Home. On Friday, Delta Air Lines is scheduled to release data, and is joined by several banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Others with a scheduled call on Friday are BNY Mellon, BlackRock, and UnitedHealth.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

Uniquely Delaware

The 152nd General Assembly is Gaveling Back into Session!

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