‘Hot’ US Economy Underwhelms Despite Spending Spree
The US economy expanded at a 6.5% annual clip in the second quarter, the government said Thursday.
That was woefully short of consensus. The market wanted 8.4% (figure below). The range, from nearly six-dozen economists, was 6% to 11.2%.
Although activity in the world's largest economy is generally expected to remain a semblance of robust going forward, concerns around "peak growth" are rampant.
The spread of the Delta variant, rising US cases and associated new containment measures have we
Numbers are setting up a surprise to the upside. What’s the analyst taking their low risk approach of continuation. I expect dire and four from all analysis and talking heads for the next 3 months. They will be correct about stoking fear but wrong about the future it seems. I believe Scott Gottlieb has a reasonable communication the virus progression, the virus will burn itself out rather quickly. He is not constrained as Faucci is to not predicting the future.
Now this is the confirmation bias I was looking for!
I can’t figure out what’s wrong with the economy given the perspective of where we’ve been and where we are hopefully going (upward, whatever that means). Does someone posses an accurate model of how global economies should come out of a pandemic so we have something to compare to. If the economy is really going to generate solid and sustainable growth, the general mood is going to need to improve. Politicians are the weak link at this point. As a group their strength is creating angst.