Dear Members and Friends,
As we move into the second half of the year, I’d like to take a moment to reflect on the current economic landscape and how it may shape the road ahead for our businesses and partnerships—both here in the Carolinas and across the Atlantic.
The latest U.S. economic data offers a cautiously optimistic view. The labor market remains resilient, with job gains holding steady in May and wage growth showing healthy momentum. At the same time, we’ve seen a dip in labor force participation—over 625,000 people have exited the workforce—perhaps reflecting uncertainty or shifting personal and professional priorities. While unemployment holds at 4.2%, we are reminded that stability in numbers doesn't always reflect confidence in the market.
Encouragingly, inflation continues to cool. May’s Consumer Price Index came in at just 2.2% year-over-year, the slowest pace in over four years. Core inflation metrics also eased, giving the Federal Reserve more room to maneuver. This relief is particularly meaningful for our member companies navigating supply chain costs and cross-border pricing pressures.
Meanwhile, equity markets have responded with enthusiasm. The S&P 500 and Nasdaq both posted impressive gains in June, buoyed by strong earnings and continued confidence in the tech and AI sectors. This optimism, however, is tempered by underlying risks—geopolitical tensions, ongoing trade debates, and looming fiscal uncertainties.
The summer outlook presents a mixed picture. Manufacturing remains in contraction, trade tensions are reemerging, and major fiscal policy decisions—like the “One Big Beautiful Bill” (OBBB)—may impact our economy for years to come. As the House deliberates, businesses are watching closely, especially those involved in global trade.
At EACC-Carolinas, we believe this is exactly when international collaboration becomes even more vital. In times of ambiguity, our transatlantic community is a source of strength. The Enterprise Europe Network (EEN) continues to open meaningful opportunities for Carolinas-based companies to engage with partners, innovators, and investors across Europe. And for our economic development partners, it offers unprecedented visibility in EU markets.
As always, we remain committed to helping you navigate change, seize new opportunities, and grow stronger through connection. I encourage you to stay involved, attend upcoming webinars, and reach out to our team if you’d like to explore how we can help expand your international reach.
With warm regards and renewed optimism,
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