Latest economic updates for the past week.

 Q2 US GDP growth: 2.1%

As stated previously, the US GDP growth would deteriorate in the 2nd half of 2023 compared to the 1st half.

https://sg-stock.blogspot.com/2023/09/3-important-economic-statistics-for.html

Where's the proof?

The US consumer credit had peaked and would decline as it was unsustainable over a long period.  A recession would follow whenever the consumer credit was in a decline as shown on the chart below.

The consumer credit had started to decline (below 0%) as shown on the chart below.

As stated previously, there won't be any significant fall in the US inflation anymore.

https://sg-stock.blogspot.com/2023/08/us-inflation-is-going-to-remain.html

The latest PCE chart corroborated our prognosis for the US inflation.

Hong Fok - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/04/23	UOB Kay Hian	Hong Fok	1.01	1.9	Buy

Ho Bee - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/22	DBS Vickers	Ho Bee	2.81	3.8	Buy
09/12/22	DBS Vickers	Ho Bee	2.78	3.8	Buy
12/23/22	Lim & Tan	Ho Bee	2.4	3.38	Hold
03/15/23	Lim & Tan	Ho Bee	2.22	3.38	Buy
07/17/23	Lim & Tan	Ho Bee	2.01	3.8	Accumulate

Guocoland - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/30/22	Lim & Tan	GuocoLand	1.67	2.3	Buy
09/02/22	DBS Vickers	GuocoLand	1.67	2.3	Buy	RNAV (60% disc)
11/01/22	DBS Vickers	GuocoLand	1.55	2.3	Buy
01/20/23	DBS Vickers	GuocoLand	1.62	2.3	Buy
04/05/23	DBS Vickers	GuocoLand	1.63	2.3	Buy
04/14/23	Lim & Tan	GuocoLand	1.63	2.3	Overweight
07/04/23	DBS Vickers	GuocoLand	1.52	2.3	Buy
08/30/23	DBS Vickers	GuocoLand	1.5	2.3	Buy	RNAV (60% disc)
09/07/23	DBS Vickers	GuocoLand	1.53	2.3	Buy	RNAV (60% disc)

Stock calls for 29 September 2023

Date	Analyst	Company	Last	Target	Call	Valuation
09/29/23	DBS Vickers	City Developments	6.55	10.5	Buy
09/29/23	CIMB	City Developments	6.55	8.97	Add	RNAV
09/29/23	DMG & Partners	Isoteam	0.042	0.05	Buy

Grand Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/26/22	DBS Vickers	Grand Venture	0.685	1.4	Buy
08/12/22	CIMB	Grand Venture	0.7	0.85	Add
08/12/22	DBS Vickers	Grand Venture	0.7	1.07	Buy
10/17/22	CIMB	Grand Venture	0.505	0.4	Reduce	PER9.6x FY23
10/18/22	DBS Vickers	Grand Venture	0.455	0.57	Buy	PER12x FY23
11/09/22	DBS Vickers	Grand Venture	0.505	0.57	Buy
01/06/23	CIMB	Grand Venture	0.52	0.52	Hold	PER10.4x FY24
02/21/23	DBS Vickers	Grand Venture	0.52	0.57	Buy
02/22/23	DBS Vickers	Grand Venture	0.525	0.6	Buy	PER12x FY23/24
05/10/23	DBS Vickers	Grand Venture	0.49	0.6	Buy
05/10/23	Lim & Tan	Grand Venture	0.49	0.57	Buy
05/12/23	DBS Vickers	Grand Venture	0.5	0.56	Buy	PER12x FY24
05/17/23	CIMB	Grand Venture	0.505	0.54	Hold	PER10.4x FY24
07/11/23	CIMB	Grand Venture	0.51	0.51	Hold
08/11/23	DBS Vickers	Grand Venture	0.615	0.71	Buy	PER18x FY24
08/11/23	CIMB	Grand Venture	0.615	0.51	Hold
09/26/23	CIMB	Grand Venture	0.565	0.51	Reduce