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U.S. Watch

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U.S. Watch

On Saturday morning we jumped out of bed, put on good suits, got in our car, raced like a jet, knocked on the door of Janet Yellen (with heart in hand) and asked her a question: can we have economic stability for the rest of our lives (or at least five more years)? A more durable United States seems to be emerging from the seemingly hollow recovery that followed the Great Recession. Virtually every sector of the economy experienced stronger growth in the second quarter than in the first, highlighted by real GDP growth of 4% at a seasonally-adjusted annual rate, a pace that was above our expectations and that easily reversed a 2.1% decline in the first quarter.

We still worry about some choppy news on the housing front, persistent unemployment, political bickering and further turmoil overseas.They could disrupt energy markets, business confidence and financial markets. But it is becoming increasingly clear that a fading fiscal drag and a further loosening in credit constraints are helping to unleash pent-up demand and spur spending activity, placing the U.S. on a clearer path to sustained expansion.

Source : CBRE Global Investors

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