|Data for week commencing 22 April 2019|
US stock markets have been flirting again with record highs overnight, with US economic growth coming in at 3.2% compared to the expected much lower number of 2.5%. So it looks like the doomsday merchants and that damn bond market got it wrong!
Even though you can’t easily look at one quarter and say the rest of the year should follow, it should be remembered that the first quarter isn’t known for great growth because it’s so damn cold in the States and working days can be lost. What the numbers told economists is that underlying demand, especially business and government investment, is strong.