ECONOMICS (HYMAN) – Cutting EPS Est - Yesterday Ed cut his 2023 real GDP forecast from +2% to +1% and with growth slowing to +1%, today he’s cutting his S&P earnings forecast to a $240 annual rate for 4Q of 2023 and lifted his unemployment rate forecast for the end of 2023 from 3.2% to 4.0%.
Today Lowering our 4Q22 S&P EPS from $235 to $230 a.r., and 4Q23 S&P EPS from $255 to $240 a.r…. our CY22 number goes from $229 to $227 and CY23 from $247 to $236.
Increasing our 2023 Unemployment rate forecast from 3.2% to 4.0%.
Raised our 2022 Inflation from 6.0% to 6.5%.
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