No Roman candles have been fired on the White House garden when the Commerce Division raised its first quarter 2017 GDP development estimate from a frigid 1.2 p.c to a nonetheless-not-thawed 1.4 percent. The numbers were the latest in a wierd sequence of figures popping out about the US that time to an economy that seems nearly becalmed, with each optimistic economic point countered by its opposing power: a powerful job market and rising consumer confidence, but decrease automotive and retail gross sales, and low general consumer spending.
Quarterly knowledge: The U.S. net worldwide investment position increased to -$7,781.1 billion (preliminary) at the end of the third quarter of 2016 from -$eight,026.9 billion (revised) on the finish of the second quarter, in response to statistics released as we speak by the Bureau of Financial Evaluation (BEA).
Numbers are tricky, the world of work has modified, making it laborious for many to see the excellent news in the jobs report and other financial statistics, stated Roy Bahat, head of Bloomberg Beta and co-chair of the Shift Fee: We have a disconnect between the financial statistics and the information and feelings about what individuals are going by means of,” he stated.
Even higher, industrial production has been accelerating since December 2015, and manufacturing employment, reversing its southward trip, has been rising since January 2017. Secretary Jacob J. Lew traveled to Riyadh, The Kingdom of Saudi Arabia; Israel; and London and Oxford, United Kingdom from October 26-31, 2016.
The Philadelphia Fed’s June 2017 Livingston Survey, a composite primarily based on 38 forecasters, came in with a barely reduced forecast for 2017’s first half (from 2.2 to 2.1 p.c), but a stronger 2.5 percent forecast for the second half. There is a good probability we’ll see stronger development for the rest of 2017 and for the yr forward.