U.S. Outlook: Encouraging signs of growth still evident

Posted By Scott Anderson In Economic Outlook | No Comments

“Better than expected” is a phrase you will hear often about this October’s economic data. Is the U.S. economy on the cusp of a meaningful acceleration?

Below is a brief summary of my weekly analysis, followed by a link to the full report, delivered on Nov. 22, 2013. (Note: This report covers two weeks; there will not be a report issued on Nov. 29.)

Key observations:
  • Good October retail sales and slowing jobless claims show U.S. growth surviving the government shutdown.
  • Record high stock prices, falling gas prices, and a lower rate of job loss are helping spur consumer spending and confidence.
  • U.S. economy may be on the cusp of a meaningful acceleration.
  • Fed could taper in January if monthly payroll gains exceed 200K in November and December.
  • Large Q3-to-Q4 inventory swing will mask economic acceleration in Q4 GDP report.

jobless_1122 [1]

 

To read my full report, see this two-week version of my U.S. Outlook [2]. Happy Thanksgiving!


Article printed from Bank of the West: https://blog.bankofthewest.com

URL to article: https://blog.bankofthewest.com/2013/11/22/encouraging-signs-of-growth-still-evident/

URLs in this post:

[1] Image: https://blog.bankofthewest.com/wp-content/uploads/2013/11/jobless_1122.jpg

[2] two-week version of my U.S. Outlook: https://cdn.shoutlet.com/file/10476/1023395.pdf

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