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U.S. Watch

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U.S. Watch

Spring was definitely in the air in May, although vestiges of the nasty winter lingered on in the form of Q1 GDP figures. But hope springs eternal. By most measures, the economy appears to be back on track after the weather-related hiccup. Labor markets are re-gaining their footing. Manufacturing surveys point to expansion. Auto sales are promising. Consumers are shaking off the winter blues. The only sector still giving major heartburn is the housing market. Its recovery appears to be stuck in neutral, though there are signs of a thaw there too. Deeper than expected inventory drawdown and a drop in equipment and infrastructure investment in Q1 should mean a potential jump in production and investment in Q2, boosting GDP. Although this is not the acceleration one had hoped for coming into 2014, the resilience of the economic recover is not in doubt.

Source : CBRE Global Investors

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