Market Insights, Two the Point

Two the Point — Juggling Growth – Economy Expands Amid Unyielding Inflation

Andrew Davis, CFA®

Bryn Mawr Trust Advisors

April 19, 2024

< 1 min read

Two the Point

This week we explore how resilient consumer spending and unexpected inflation dynamics shape our economic landscape and influence investment strategies.

Key Insights:

Retail Resilience: March saw retail sales increase by 0.7% month-over-month, with the control group sales (a key GDP indicator) rising by 1.1%.
Revisions Reveal Strength: February’s retail data was revised to 0.9% month-over-month, indicating sustained consumer strength.
Inflation Concerns: March CPI rose by 0.3% month-over-month and 3.5% year-over-year, with Core CPI (which excludes volatile food and energy prices) climbing 0.4% month-over-month and 3.8% year-over-year.
Economic Growth Estimates: The Atlanta Fed’s GDPNow model forecasts a Q1 growth rate of 2.8%, up from an earlier estimate of 2.4%, driven by robust consumer spending.
Interest Rate Outlook: Persistent inflation pressures suggest that the Fed may maintain higher interest rates longer, with potential rate cuts not expected before September.

Andrew Davis, CFA®

Bryn Mawr Trust Advisors

Andrew Davis leads a team that analyzes broad economic trends and factors that impact global and national economies. He joined the company in 2019.

Begin your journey

Have questions?

Speak with an financial expert.

Recent Articles

Newsworthy Topics

When Should You Claim Social Security?

Planning in Focus is your guide to navigating the complexities of wealth management with ease. This week we discuss social…
Corporate Retirement Planning, Newsworthy Topics, Retirement Planning

October: National Retirement Security Month

October is National Retirement Security Month—a great reminder to pause and check in on your financial security. Retirement planning is…
Business Planning, Newsworthy Topics, Tax Planning, Trust & Estate Planning

Financial Planners Can Bridge the Gap

As you accumulate wealth over a lifetime, complexity follows. Early in your career, financial planning may have consisted of budgeting,…

View All resources

Recent Insights

Government Shutdown: Short-Term Disruption, Limited Financial Long-Term Impact

Washington is once again in a government shutdown. Investors may be asking, does this really matter for the economy and markets? History provides a valuable perspective. What History…
Two the Point – Earnings Climb as the Fed Divide Grows

In our weekly video series we highlight important observations regarding the economy and the financial market.

View All Insights

Bryn Mawr Trust | A WSFS Company Your Journey. Our Commitment.

Built on a foundation of trust, Bryn Mawr Trust has been helping individuals, families, and nonprofits achieve their financial goals for more than 130 years.

Cookie Preferences

© 2025 Bryn Mawr Trust

Equal Housing Lender

Accessibility Tools

Disclosures

© 2025 WSFS Bank. Member FDIC. Wilmington Savings Fund Society, FSB d/b/a WSFS Bank. Private Banking is a division of WSFS Bank.
Wilmington Savings Fund Society, FSB d/b/a/ Bryn Mawr Trust. Bryn Mawr Trust is a division of WSFS Bank. The Bryn Mawr Trust Company of Delaware is a subsidiary of WSFS Financial Corporation. Products and services are provided through WSFS Financial Corporation’s subsidiaries and their affiliates. Trust and investment advisory services are offered through Bryn Mawr Trust. Bryn Mawr Trust is not a registered investment advisor. Investment advisory services are also offered through Bryn Mawr Trust Advisors, LLC (“BMTA”), an SEC registered investment advisor and a subsidiary of WSFS Financial Corporation. BMTA’s registration as an investment advisor does not imply a certain level of skill or training.

Bryn Mawr Trust does not provide legal, tax or accounting advice but those services may be provided by affiliates or subsidiaries of Bryn Mawr Trust.

It remains a client’s responsibility to advise Bryn Mawr Trust (BMT) and Bryn Mawr Trust Advisors (BMTA), in writing, if there are any changes in a client’s personal/financial situation or investment objectives for the purpose of BMT or BMTA reviewing, evaluating, and/or revising its previous recommendations and/or services, or if a client would like to impose, add, or modify any reasonable restrictions to BMT or BMTA services.

All opinions expressed by the Associate(s) on television, radio, internet, or any other medium are merely opinions. You should not treat any opinion expressed as an inducement to make a particular investment or follow a particular strategy. Opinions expressed are based upon information that the Associate(s) considered reliable at the time spoken, but there is no guarantee of completeness or accuracy, and it should not be relied upon as such. The opinions do not represent the opinions of WSFS Financial Corporation or its subsidiaries. The Associate(s) and the listed entities have no duty to update or correct any information that was provided. Past performance is not indicative of future results, and as such, neither the Associate(s) nor any of the above-listed entities guarantee any specific outcome, performance, or profit. Before acting on any information from the Associate(s), consider suitability for your personal financial situation and seek the advice of your own financial professional.

Any third-party trademarks, and products or services related thereto, mentioned are for discussion purposes only. Third-party trademarks mentioned are not commercially related to, or affiliated in any way with, Bryn Mawr Trust products or services. Third-party trademarks mentioned are also not endorsed by Bryn Mawr Trust in any way. Bryn Mawr Trust may have agreements in place with third-party trademark owners that would render this trademark disclaimer not relevant.

INVESTMENTS: NOT A DEPOSIT. NOT FDIC – INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE BANK. MAY GO DOWN IN VALUE.