On several occasions, US President Donald Trump has showcased US economic growth and has gone as far as saying that the current state of the US economy is the best ever. Over the weekend, President Trump tweeted, “I have never been happier or more content because your Country is doing so well, with an Economy that is the talk of the World and may be stronger than it has ever been before.”
Trump also cited strong employment figures yesterday to drive home the point that the US economy (SPY) (QQQ) is doing well under the administration. To be sure, barring the odd month where the employment data has looked bleak, the overall trend in the US job market continues to be strong. It wouldn’t be an unfair assessment that the job market portrays a healthy picture of the US economy (IWM) (DIA).
First quarter outlook raised
While observers were quite bearish on the US economic growth outlook at the beginning of the year, several of them have toned down their bearish stance. Brokerages have been lifting their estimates of first-quarter US economic growth as well as the earnings growth outlook. Read Analysts Raise US Growth Forecast after Strong Data for more analysis.
While there are several strong patches in the economy, there are some concerns in what Trump has touted as the best economy in the world. The housing, manufacturing, and automotive sectors haven’t been in the best of the health considering recent data points. Corporate investments also haven’t bounced back as expected despite the tax cuts implemented last year.