
Simon Says: Rest of 2024 Economic Outlook
As I write this week’s economic commentary, the Dow Jones Industrial Average (DJIA) is up over 500 points on lower initial claims for unemployment insurance, and lower inflation, and robust retail sales data. The rise in the DJIA is a leading indicator for the local economy as it is highly correlated with local firm’s share prices. Rising share prices reflect the markets’ expectation of future firm cashflows and profitability. Locally, initial claims for unemployment insurance lag the national releases, but climbed slightly in May and June. Inflation in the South







