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United States

Report | Our Take on the US Economy - August 2016

Summary

​Despite a period of disappointingly soft overall GDP growth, as well as periods of elevated risk - most notably originating externally – the fundamentals of the U.S. domestic economy are actually on sturdy footing and underpinned by a strong labor market featuring more promising wage gains.

U.S. consumers are in an upbeat mood, and final aggregate demand in the economy is healthy as a reflection of that sentiment.

Financial markets have overwhelmingly shaken-off each global headline worry that has emerged over the course of 2016, the most recent of which was the UK's Brexit vote in late June.

Look to housing as a more important driver of growth over the coming 2-3 years, as though this traditionally leading segment of the economy is later to the game this cycle, its acceleration will ensure the expansion remains well on track to be one of the lengthiest in the modern economic era.

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