United States

Demand for goods and services grows following lackluster Q1


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Investors will be looking closely at a spate of first-tier data publications in the U.S. this week with fresh information on housing spending, consumer confidence, and manufacturing and labor market conditions. With the U.S. Congress in recess, forward-looking investors will be especially tuned into growing political risk in the U.S. surrounding the steady drumbeat of bad news dripping out of the White House.

We anticipate a strong rebound in monthly income gains and spending of 0.4 percent with modest upside risk based on the increase in total aggregate hours worked during the month and the late Easter holiday. We expect the major narrative in growth during the current quarter will be a rebound in demand for goods and services by U.S. households following a lackluster 0.6 percent improvement during the first three months of the year.

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