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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

30 July 2018 (AFR) – US economic data gets Trumped – Strong quarter for US unlikely to be repeated

(30 July 02018, AFR, p20, by Timothy Moore)

‘While Donald Trump says the US economy is going to surge higher, most economists aren’t betting on it. On Friday in Washington, the US government reported the economy expanded at a 4.1 per cent annual rate in the three months ended June, up from a revised 2.2 per cent increase in the first quarter. Economists expected a 4.2 per cent increase, and they have been consistently forecasting that the pace of growth will ease this quarter and into the foreseeable future. The Trump administration’s protectionist trade stance raises risks to growth, while the US housing sector is signalling more clearly than ever that it’s already shifted into reverse.’

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