US economy still humming overall - AmpGFX

There is a good deal of uncertainty related to the Trump factor, but the broad thrust of US Economic reports still suggests that the economy is continuing to grow at a solid rate according to the analysts at Amplifying Global FX Capital. 

Key Quotes

“The Atlanta Fed’s estimate for Q2 GDP SAAR %q/q was revised down from a peak of 4.0% to 3.4% on Friday.  It noted that the employment report caused it to lower its estimate of real consumer spending and its so-called factor dynamic model. However, this would still be a solid rebound from the weak 1.2% SAAR %q/q result in Q1.”

“A broad sweep of economic reports in the US still suggests that the US economy retains above trend growth momentum.”

“The fall in oil prices has not been severe enough to put a significant dent in the recovery in the US energy sector with the rigs count continuing to rise.”