Post Tagged with: "U.S. consumer spending"

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The $13 Trillion Gorilla: U.S. Consumer Spending is Waking Up

Macquarie Securities’ Toronto-based research team put out a research note today that pointed out the strength coming out of the world’s spending giant: the U.S. consumer. “Macro data continues to show that the global economy’s $13 trillion gorilla—the US consumer—is getting even stronger,” the firm said. Pointing to an Atlanta Fed estimate, Macquarie said real consumer spending is tracking at a 4.5% pace for the current quarter, marking its strongest quarterly growth rate in over a decade. Macquarie takes a contrary position to its peers: “While some commentators have compared the consumer’s performance in the current expansion to the 1930s, we find that this couldn’t be further from the truth. While from 1929 to 1938 nominal spending fell by ~17%, from 2007 to 2016 it has risen by ~30%.” U.S. spending gains in 2016 are underpinned by sound fundamentals, “suggesting further gains lie ahead,” Macquarie reported. Macquarie’s analysts said that[Read More…]

July 20, 2016 - 6:27 pm Closing Bell Story, Oil and Gas 360 Articles