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June 2014 Monthly Outlook

"Money for Nothing” by the British rock band Dire Straits was a popular song back in 1985. That title and band name pretty much sum up the recent European Central Bank (ECB) monetary policy moves under President Mario Draghi. Charging banks a negative deposit rate of -0.10% for the luxury of holding excess reserves at the ECB is unprecedented in major developed economies. By doing so, the ECB has clearly shown the dire straits it faces in fighting deflation in Europe and herding the political cats who refuse to implement needed structural reforms within the European Union."

Read more of CapitalMark's Monthly Outlook as of June 2014 (PDF document).

mAY 2014 MONTHLY OUTLOOK

"The uneven nature of this business cycle continues to both confound and comfort market participants, business executives and consumers. The perennial 3%-growth crowd was sorely disappointed when first-quarter GDP clicked in at a whopping 0.1%. Not to be deterred, they confidently predict a 3%-plus second-quarter result, which is probably spot on given the weather-impaired slowdown earlier in the year."

APRIL 2014 MONTHLY OUTLOOK

"Green shoots, spring thaw, a weather-induced bounce-back – call it what you will. The U.S. economy should display some buoyant economic data points over the next few months as consumers and businesses shrug off the last vestiges of winter’s grip on sales activity."

March 2014 Monthly Outlook

"The first revision of growth domestic product (GDP) for the fourth quarter of 2013 showed the economy grew at a slower annual rate of 2.4% versus the originally reported 3.2%. Contributing factors were consumers not spending as much, weaker overseas demand, and a negative impact from the bad winter weather."

Read more of CapitalMark's Monthly Outlook as of March 2014 (PDF document).

February 2014 monthly outlook

"The economy experienced its strongest second-half growth since 2003, as real GDP rose in the fourth quarter at a 3.2% annual rate, which brought its growth for the six months to 3.7%. Stronger spending by consumers and businesses, as well as improved exports, were the positives in the quarter. These positives helped offset declines tied to housing and the federal government."

Read more of CapitalMark's Monthly Outlook as of February 2014 (PDF document).

JANUARY 2014 MONTHLY OUTLOOK

"The final revision for third-quarter GDP showed improved consumer spending as growth was revised to a 4.1% annual rate. Economic figures released during the fourth quarter continued to be more positive and showed an economy working through many challenges and concerns."

Read more of CapitalMark's Monthly Outlook as of January 2014 (PDF document).

december 2013 monthly outlook

"Driven by increased inventory investment and capital expenditure spending, the economy grew at a revised 3.8% annual rate in the third quarter, up from the original estimate of 2.8%. The negative factor: little change in final demand."

Read more of CapitalMark's Monthly Outlook as of December 2013 (PDF document).

November 2013 Monthly Outlook

"...Perhaps most important, especially heading into the holiday selling season, was the shutdown’s impact on consumer confidence. In October, the Conference Board’s Consumer Confidence Index experienced its greatest decline since August 2011. Given that there was no final agreement on the budget or the debt ceiling, we may have to go through the same scenario early next year and hear all of the rhetoric on such between now and then."

Read more of CapitalMark's Monthly Outlook as of November 2013 (PDF document).

OCTOBER 2013 MONTHLY OUTLOOK

"The economy showed signs of slowing during the latter part of the third quarter. The headwinds of a slower labor market, combined with rhetoric surrounding the debt ceiling crisis and the potential, and then realized, government shutdown, appear to have affected the consumer."

Read more of CapitalMark's Monthly Outlook as of October 2013 (PDF document).

September 2013 Monthly Outlook

"...The economy remains in a positive growth mode, but the level of growth appears to have slowed a bit as consumers pull back in reaction to a slowing labor market and concern about the situation in the Middle East. The recent increase in interest rates may also have a dampening effect on the economy. Any slowdown now should lead to more positives as we approach the new year."

Read more of CapitalMark's Monthly Outlook as of September 2013 (PDF document).

AUGUST 2013 MONTHLY OUTLOOK

"Although growth in consumer spending slowed in the quarter, there was a strong increase in exports, and state and local government spending also increased. Consumers appeared to hold back on some spending at the end of the quarter and may still feel the impact of higher taxes and continued weak wage growth."

Read more of CapitalMark's Monthly Outlook as of August 2013 (PDF document).

July 2013 Monthly outlook

"While the final reading on real GDP for the first quarter showed slower growth than previously estimated, the economy has not continued to slow and appears to have stabilized. Economic figures released in June actually showed improvement in a few key areas, such as the labor market and consumer spending."
 

June 2013 Monthly Outlook

"The economy continues to show positive signs, as well as signs that growth is strug­gling. The first revision of annualized GDP growth for the first quarter was 2.4%, down slightly from the originally reported 2.5%. Further weakness in government spending offset the additional positives in consumer and consumer-related areas."

Read more of CapitalMark's Monthly Outlook as of June 2013 (PDF document).

 MAY 2013 MONTHLY OUTLOOK

"Since the end of the quarter, there have been indications that the economy has lost some steam, but also indications of underlying positives that could lead to continued growth and expansion. Both the ISM manufacturing and non-manufacturing indexes fell slightly in April, indicating growth slowed. However, they remain above 50, indicating growth continues in all parts of the economy."
 

April 2013 Monthly Outlook

"The U.S. economy continued to grow in the first quarter, but it appeared to have slowed in March after a good start in January and February. Although the ISM manu­facturing and non-manufacturing indexes remain above the magical 50 level, indicat­ing growth, they both declined in March. The non-manufacturing index, the more important of the two because it represents more than 80% of the economy, fell to its slowest pace in seven months."

Read more of CapitalMark's Monthly Outlook as of April 2013 (PDF document).

MARCH 2013 MONTHLY OUTLOOK

"The two biggest negatives for the quarter were a reduction in inventories and the decline in spending at all levels of government. The consumer, also expected to be a drag on growth due to the long-anticipated “fiscal cliff” and potential tax increases, actually spent more in the quarter than in the previous quarter."

Read more of CapitalMark's Monthly Outlook as of March 2013 (PDF document).

FEBRUARY 2013 MONTHLY OUTLOOK

"A big part of the decline [in gross domestic product] can be traced to a sharp drop in government spending prior to the election and in the face of the “fiscal cliff.”

Read more of CapitalMark's Monthly Outlook as of February 2013 (PDF document).

january 2013 monthly outlook

"The economy begins 2013 having moved past the “fiscal cliff” and is in relatively good shape. The final reading for third-quarter gross domestic product showed the economy did better than thought, as growth was revised higher to 3.1%. The fourth quarter most likely was a bit slower due in large part to the problems in Washington and their impact on confidence."

Read more of CapitalMark's Monthly Outlook as of January 2013 (PDF document).

december 2012 monthly outlook

"The U.S. economy grew in the third quarter, as the Commerce Department revised real gross domestic product to an increase of 2.7% versus the originally reported 2.0%. The main reasons for the upward revision were better growth in housing, government spending and inventories."

Read more of CapitalMark's Monthly Outlook as of December 2012 (PDF document).

NOVEMBER 2012 MONTHLY OUTLOOK

"The consumer appears to be feeling better about the economy and where things are headed, even though the rhetoric from the presidential campaigns paints a very conflicting picture."

Read more of CapitalMark's Monthly Outlook as of November 2012 (PDF document). 

OCTOBER 2012 MONTHLY OUTLOOK

"The economy started to show some signs of life in September, as there were positives reported in corporate America and with the consumer. The Institute for Supply Man­agement (ISM) factory index rose above the important 50 level following three months of contractionary readings. This was a welcome reading as it contrasts with weakness in other parts of the world."

Read more of CapitalMark's Monthly Outlook as of October 2012 (PDF document). 

SEPTEMBER 2012 MONTHLY OUTLOOK

"Employment gains in early August that beat forecasts ushered in a sharp rally in equity prices, and the market held the gains for the rest of the month. On a price-only basis, the S&P 500 was up 1.98% for the month, but the real action was in the “riskier” areas of the market."

Read more of CapitalMark's Monthly Outlook as of September 2012 (PDF document).

August 2012 monthly outlook

"The pace of economic growth slowed further in the second quarter as real gross domestic product grew at an annual rate of only 1.5%...The decline in sales has a lot to do with the consumer and consumer confidence, which have been weak in large part as a result of the continued weakness in the labor market."

Read more of CapitalMark's Monthly Outlook as of August 2012 (PDF document).

July 2012 monthly outlook

"The economy has shown further signs of slowing as it continues to face headwinds, both domestic and foreign."

Read more of CapitalMark's Monthly Outlook as of July 2012 (PDF document). 

JUNE 2012 MONTHLY OUTLOOK

"The U.S. economy continues to grow, but there are more signs that growth is slowing. Real gross domestic product for the first quarter was revised slightly lower to 1.9% as a result of a negative revision to inventories and an increase in imports."

Read more of CapitalMark's Monthly Outlook as of June 2012 (PDF document).

May 2012 monthly outlook

"Economic growth slowed slightly in the first quarter as real gross domestic product rose at an annual rate of 2.2%, down from the fourth quarter's 3.0%. A big part of the weakness was another decline in government spending. Consumer spending, which accounts for around 70% of economic activity, rose 2.9% in the first quarter - the fastest pace in more than a year."

Read more of CapitalMark's Monthly Outlook as of May 2012 (PDF document).

april 2012 monthly outlook

"Economic growth continued during the first quarter, but there were signs late in the quarter that growth was slowing."

Read more of CapitalMark's Monthly Outlook as of April 2012 (PDF document).

March 2012 monthly outlook

"In yet another sign that the worst of the economy may be behind us, at least in the near term, real gross domestic product for the fourth quarter of 2011 was revised up slightly to an annual growth rate of 3.0%. Continued declines in federal, state and local government expenditures during the quarter were offset by spending increases in commercial construction, services and by consumers."

Read more of CapitalMark's Monthly Outlook as of March 2012 (PDF document).

february 2012 monthly outlook

"The economy expanded at a 2.8% annual rate in the fourth quarter, a bit slower than expected, but still the fastest rate of growth since the second quarter of 2010. The majority of the growth was attributed to an increase in inventories, which could be a negative for future quarters. The manufacturing sector continues to be a positive for the economy as evidenced by another slight rise in January's Institute for Supply Management manufacturing index."

Read more of CapitalMark's Monthly Outlook as of February 2012 (PDF document).

january 2012 monthly outlook

"The U.S. economy continues to show signs of growth and recovery, though figures don't indicate that economic growth is picking up substantially. Both the Institute for Supply Management (ISM) manufacturing and non-manufacturing indexes have risen slightly in recent months and are above the milestone 50 level that separates growth from contraction."

Read more of CapitalMark's Monthly Outlook as of January 2012 (PDF document).

December 2011 monthly outlook

"The first revision for real gross domestic product growth in the third quarter of 2011 shows growth slowed slightly from the original 2.5% estimate to 2.0%. The principal reason for the reduction was a higher-than-estimated decline in inventories."

Read more of CapitalMark's Monthly Outlook as of December 2011 (PDF document).

NOVEMBER 2011 MONTHLY OUTLOOK

"The economy grew at a 2.5% annual rate in the third quarter, a relatively strong improvement in growth over the first two quarters as consumers and businesses boosted spending."

Read more of CapitalMark's Monthly Outlook as of November 2011 (PDF document).

OCTOBER 2011 MONTHLY OUTLOOK

"The U.S. economy continues to struggle to find some positives in a period of high unemployment, a weak housing market and additional financial issues with various countries in Europe. The impact on overall sentiment of these concerns has perhaps become the biggest impediment to sustained economic improvement."

Read more of CapitalMark's Monthly Outlook as of October 2011 (PDF document).

September 2011 monthly outlook

"The economy has been exhibiting signs of further slowing following the second quarter's revised growth rate of only 1.0%. The labor market remains in a tough place as additional government jobs are lost and the private sector has little or no incentive to hire new workers."

Read more of CapitalMark's Monthly Outlook as of September 2011 (PDF document).

August 2011 Monthly Outlook

"There is a concern that slower growth is leading the economy into another recession. We do not see that risk as likely at this point for three reasons..."

Read more of CapitalMark's Monthly Outlook as of August 2011 (PDF document).

July 2011 Monthly Outlook

"Economic growth has suffered recently by factors that appear to be temporary in nature. These factors include higher energy and food prices and supply disruptions caused by the disasters in Japan. Manufacturing has been affected, but the more significant issue is the effect of higher prices on consumer spending. Although consumers do not appear to be panicked as prices have risen, spending on discretionary items has been reduced."

Read more of CapitalMark's Monthly Outlook as of July 2011 (PDF document). 

June 2011 monthly outlook

"The economy is showing additional signs of slowing down as the pressures of elevated energy and food prices impact various segments. The consumer seems to be the hardest hit as higher costs, combined with low wage growth and soft housing values, have reduced the ability to spend on other items. As the consumer reduces discretionary spending, the manufacturing side of the economy is starting to feel the impact."

Read more of CapitalMark's Monthly Outlook as of June 2011 (PDF document).

May 2011 Monthly Outlook

"The economy grew at a reduced rate of 1.8% in the first quarter of 2011 compared with the fourth quarter's growth of 3.1%. The slower growth was partly the result of defense spending cuts and harsh winter weather."

Read more of CapitalMark's Monthly Outlook as of May 2011 (PDF document).

April 2011 Monthly Outlook

The economy continues to experience some ups and downs, though there seem to be more positives than negatives.”

Read more of CapitalMark’s Monthly Outlook as of April 2011 (PDF document).

 

News

August 13, 2014

Local Bankers Move to CapitalMark

August 12, 2014

CapitalMark Hires Julie McLain

July 24, 2014

CapitalMark Second Quarter Earnings Remain Strong