• 100 Days In…

    Growth underway  The resurgence of the US economy is well underway as US GDP grew 6.4% for the first quarter. With more vaccinations and another round of stimulus, consumer spending surged 10.7%. Also, ICYMI, the housing market is red hot, driving personal investments in housing up 11%. The optimism of reopening also helped businesses ramp up normalized spending as well and investments from businesses jumped up 10%. I’ve mentioned supply chain hiccups holding back industrial production, and we saw that flow through into inventory levels, which fell nearly $148b because production couldn’t keep up with demand. Had that not happened, GDP would have actually grown closer to 9%. All this demand is,…

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