US GDP growth expanded at a 1.2% pace in the second quarter with consumer spending serving as the key driver of overall economic activity. Structures, equipment investment, government spending and inventories all subtracted from growth. Looking ahead to the remainder of the year, growth is expected to remain around 2.0% over the next couple of [...]
US ISM indexes for both the manufacturing and non-manufacturing sectors showed activity picked up in June. This news, however, paled in comparison to the blockbuster job report on Friday, which reported 287k positions added to non-farm payrolls in the month. The diffusion index showing the proportion of private industries adding jobs rose to 62.4, up [...]
US Personal spending rose by a solid 0.4% month-on-month in May, coming on the heels of an impressive 1.1% month-on-month gain in April, while initial jobless claims suggested robust job growth continues. The US economy should remain relatively well-insulated from Brexit-related spillovers, but some drag may manifest in the second half of year. Still, the [...]
