Thanksgiving is a time to reflect and give thanks on the past year, and also a time when we can look forward and plan an approach, as well as, a mindset for the upcoming year. So it’s time to plan for and watch out for big things in 2018, because the economy has picked up pace in the last couple months of 2017. It’ll be a strong holiday shopping season, which bodes well for sentiment and the economy.
Labor Market Acceleration Forecast
If the labor market follows the strengthened consumer demand after the recent devastation of the multi-storm hurricane season, then the Conference Board is forecasting acceleration in wages, which could also boost spending. Add the chance of federal income tax cuts and there could be even more good news in the markets.
When you account for the fact that the US Economy has gained 3% growth for two consecutive quarters, business investments have risen more than 4%, after being in the negatives in 2016, and confidence in manufacturing has been strong, you start to realize and give thanks for what could be in 2018.
Basically, nothing has rattled the market yet, so expect the unexpected. Rates will rise faster than expected, but in the short-term they will be met with favorable outcomes. Clearly the cycle will start turning a corner at this forecasted pace, but with controlled expectations, tempered spending and prudent underwriting going into capital investment decisions there are great opportunities to last in the long-term as well.
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