Saturday, July 30, 2016

Q2 GDP = 1.2%

Yesterday we received Q2 GDP estimates and it wasn't so great. GDP grew by 1.2% compared to last year. The report cited concerns' for lack of business spending, and confidence in the global economy. I think some of that is related to Brexit, but it's true American manufacturers are still feeling the heat from a strong dollar which keeps staying strong. With other countries still looking to weaken their currency, and some already at negative rates I think the strong dollar can continue for quite awhile. An interest rate hike by the Federal Reserve will only add to the problems. I'll have the Weekly Review up soon.

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