Citigroup Inc. (NYSE:C) Bernstein's 39th Annual Strategic Decisions Conference 2023 Call June 2, 2023 11:00 AM ET
Company Participants
Jane Fraser - Chief Executive Officer
Conference Call Participants
Unidentified Analyst
Okay. Great. Thanks, everyone, for joining us. We're very happy to have Citigroup here with us, CEO, Jane Fraser.
Jane Fraser
Good morning, everyone.
Unidentified Analyst
Jane, thanks so much for coming back. We're happy to have you again this year.
Jane Fraser
Thank you.
Question-and-Answer Session
Q - Unidentified Analyst
As always, we'll start off asking you about the macro and your views. And your global footprint gives you a unique view on the health of the global economy, and I know it's always, you've been on the road a lot. So, maybe you could start off talking about what you're seeing across the geographies that you both operated and the places you visited?
Jane Fraser
I think, we've had a pretty consistent view from -- around the resiliency of the U.S. over the last few days from everyone and today's job numbers yet again show part of the dilemma here in the States.
When we look elsewhere around the world, Europe had a better winter than we expected. It is slightly better in the first quarter than most folks were expecting from a GDP. I do worry when we're talking to our clients out there. I was just in France and Germany, talking to the core companies there, they're worried about competitiveness. Their energy costs are still high. They've come down, but they're still high. Labor costs are very high. And you can see them moving more of the capacity if they're multinationals to other parts of the world to Asia and to the States, but particularly Asia.
And so, you come away with Europe feeling unlike the U.S. where
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