U.S. Outlook: The economy is moving in the right direction
Global equity markets breathed a sigh of relief this week as U.S. economic data showed signs the economy is continuing to grow.
For more economic analysis, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on March 4.Key observations:
- Our forecast for U.S. GDP growth remains at 2.1% for the first quarter of 2016.
- U.S. manufacturing activity appears to have stabilized in February.
- The public sector spending growth over last year was the strongest since November 2007.
- Solid monthly job gains and remarkable growth in the construction sector are sending signals that U.S. economic growth is on the right track, despite volatility in the equity markets.