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Active lending to companies, soaring consumer spending along with the improving labor market – all of this indicate that the US economy will keep surging, with the only negative factor being the risk of a trade conflict, as the Federal Reserve informed on Wednesday.
As follows from the Fed's Beige Book, a study of economic conditions in up to 12 American regions, the overall outlook for companies is still positive, although many experts are concerned about the duties proposed by the Trump administration.
Participants in various sectors, including manufacturing, agriculture as well as transport, expressed worries as for recently introduced or proposed fees, as follows from the US Central Bank report.
However, without taking this factor into consideration, the American economy seems to keep expanding, with signs indicating that the tax reform approved in December could start affecting company spending and investment.
Several regions reported a steep soar in lending to commercial companies as well as industries.
Considerably accelerated growth in lending was closely watched in the commercial sector, industrial sectors as well as real estate sales, as the Federal Reserve Bank of Dallas informed.
Active surge of enterprise lending might be a harbinger of the investment boom, which, as the Fed officials suggest, will be the outcome of a considerable reduction in corporate tax.
This factor will probably back the opinion of most Fed officials that the regulator will have the rate lifted at least two, and perhaps even three times before the end of 2018. The key US bank lifted its rate following the outcomes of the March gathering, although the market doesn’t expect that the regulator will again make up its mind to tighten the policy at a gathering, which will take place in approximately two weeks.
In October, the United Kingdom recorded a greater budget deficit than anticipated, as follows from first borrowing figures, since finance minister Philip Hammond pledged an end to austerity was over there…
Find out about the most important market movers from today's digest!
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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