US: Economy on a strong footing – RBS

Analysts at RBS point out that US GDP grew at a stunning 4.1% annualised rate in Q2, the strongest 3 months of expansion since 2014.

Key Quotes

“There were tell-tale signs of Trump’s policies in the data, with consumer spending on durable goods rising 9%, probably boosted by the tax cuts. But other policies also looked to be having an effect.”

“The rush to get US-made products out of the country before another round of tariffs are imposed caused goods exports to leap 13%. That boosted headline GDP growth by 1% all on its own but we’ll have to wait to see how much is reversed in subsequent quarters.”