U.S. Outlook: September bounce intact

Posted By Scott Anderson In Economic Outlook | No Comments

Coming off a weak August, the data we have received so far for September shows economic growth bounced back decisively last month.

Graph showing recent rise in monthly auto sales. [1]The indicators we’ve seen so far support our forecast for a higher GDP growth in the third quarter.

For a look at more of the key developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Oct. 7.

Key observations:
  • September’s total vehicle sales outpaced expectations, jumping up 4.4% from the month before.
  • The most exciting economic news in my mind was the ISM non-manufacturing survey for September, which jumped far more than any analysts expected.
  • The next hurdle will be retail sales, producer prices, and import prices that will be released next week.
  • The Fed funds futures implied probability of a rate hike by December increased to 63.1% this week.

Click here to read my full report. [2]


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URL to article: https://changematters.bankofthewest.com/2016/10/07/u-s-outlook-september-bounce-intact/

URLs in this post:

[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2016/10/graph_autosales_100716.jpg

[2] Click here to read my full report.: http://blog.bankofthewest.com/wp-content/uploads/2016/10/BankoftheWest_USOutlook_10_07_16.pdf

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