Economies, businesses, GDP, revenue – all encountering a reduced pace of movement. America seems to be faring somewhat better – thankfully not yet feeling the impact of the interest rate cuts from central banks. According to figures from the US Commerce Department however, concerns over international trade issues are undermining business activity in the nation.
According to a recent WSJ article however:
“a private survey of business activity separately indicated a slight uptick in U.S. business activity in October, up from earlier lows.”
Still, even though there are real concerns for a recession, other data is indicating that America’s economy is faring well, “reflect[ing] economic strength.”
In addition, last month unemployment fell to a 50 year low and there was a hike in retail sales more than anyone anticipated in August. According to BCA Research Chief US Investment Strategist Doug Peta:
“While the survey data have been steadily disappointing expectations, hard data have been a source of positive surprises. The labor market remains vibrant enough to exert downward pressure on the unemployment rate, and services continue to expand despite the contraction in manufacturing, both here and abroad. The expansion has slowed, but it’s not finished yet.”