I read this report and I though it would be good to share it.
In my opinion , the US is about to enter a major growth spurt and probably be the best year in a decade. All engines re pumping and they have heart full employment .
With the loosening of the government ties and restrictions then this will just fire them up even more.
Here is what I read:
After a miserable first quarter when it comes to GDP growth, Bank of America Merrill Lynch is forecasting growth will pick up sharply in the second quarter, expanding by 3.0% annualized, according to their latest U.S. Economic Weekly report. This is up from their previous forecast of 2.3%, though they are keeping their projection for 2.1% full-year growth in 2017 unchanged. The first quarter saw an unexpectedly weak 0.7% GDP growth rate.
Consumer Spending Surge
Merrill Lynch economists expect businesses to build up inventories in the second quarter, after partially drawing them down in the first quarter, and for exports to be boosted by a weakening dollar. Auto sales declined in the first quarter after hitting a cyclical high in the fourth. Meanwhile, outlays on home heating and winter clothing were dampened by a mild winter in many locales. While auto sales remain a risk, Merrill Lynch expects an overall rebound in consumer spending during the second quarter.
"The backdrop is generally favorable for consumers with an unemployment rate of 4.4%, gradually improving wage pressures, low borrowing costs and high household wealth," Merrill Lynch economists said in their report.
Read more: Start Your Engines: Why GDP Will Fire Up in Q2 | Investopedia http://www.investopedia.com/news/start-your-engines-why-gdp-will-fire-q2/#ixzz4gYQvuy9u
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