NAB’s Wellbeing Index rebounded solidly in the June quarter, after falling to its lowest point in the history of the survey. Pressures remain. But the effort required has eased.
Report
August 17, 2017
US Economic Update: August 2017
After a sluggish start to the year, GDP growth rebounded in the June quarter and the labour market continues to tighten.
Key points:
- The large fall in the non-manufacturing ISM indicator in July is probably exaggerated and, together with the rebound in GDP growth, points to a re-alignment of the ‘hard’ activity data with the ‘soft’ business survey measures.
- Growth is expected to remain modestly above the economy’s longer term trend; in the near-term it will be supported by the easing in financial conditions that has occurred despite Fed rate hikes.
For further details please see the attached document.
