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1.Market Observations, 8.Was Sticky

28 Dec 2016 (AFR) – Australian economy 2017: bad news for jobs but no recession

(28 December 2016, AFR, p15, by John Edwards)

‘What with Trump, Brexit and so forth 2016 did not go to plan. Undaunted, we will try again for 2017. Let’s start with the US. Though it hasn’t been as spectacular, the current economic expansion in the US is already the fourth longest since the end of World War II. If it continues through 2017, as I expect, it will be the third longest post-war expansion and closing in on the second longest. Output growth has been modest but persistent. After the lows of 2015, US inflation is drifting up. At 4.6 per cent unemployment is right back to where it was prior to the financial crisis. According to recent IMF figuring, the US is already producing a bit above its potential.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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