Increasing household wealth (due to rising equity and house prices), as well as a high level of consumer confidence, remain tailwinds for consumer spending.
After a sluggish start to the year, GDP growth rebounded in the June quarter and the labour market continues to tighten.
Following a slow start to the year, GDP growth looks to have accelerated in the June quarter.
After a slow start to the year, early indications for June quarter GDP are pointing to an acceleration in growth.
The details for quarterly growth, while mixed, where not as bad as the headline result.
Jobs growth, business surveys and consumer sentiment all point to an economy in good shape.
Financial markets rallied strongly shortly after it was clear Donald Trump would be the next President. This was evident across stock, currency and bond markets, and there was also a decline in credit spreads.
We expect growth to face some headwinds in coming quarters but to strengthen later in the year and into the next, assuming the President delivers a fiscal stimulus to the economy
Re-building the US industrial base, aiming to “massively increase jobs, wages, incomes and opportunities for the people of our country” is the principal economic objective of the Trump Presidency.
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