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U.S. Watch

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U.S. Watch

News about the U.S. economy took a back seat in June. Supreme Court decisions, Charleston's tragedy, the Greek dra(ch)ma and Puerto Rico's troubles grabbed headlines. And the economic news was largely positive and indicative of an economy on a strong footing that had a momentary lapse in Q1. The ISM indices stayed in expansionary mode, the job market had a nice upside surprise, retail sales experienced an uptick and, best of all, the housing market indicators boosted optimism about the sector's recovery. Fundamentals warrant a better spending profile from consumers and businesses, who have remained stubbornly cautious despite lower energy prices and constant drumbeat of good news about improving economic indicators. There are early signs that consumer spending is starting to catch up with consumer sentiment as wage gains begin to appear. The energy industry's pullback is also gradually fading and business investment spending is expected to gain momentum. All signs point to continued economic expansion and raises the likelihood of a September rate hike.

Source : CBRE Global Investors

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