Analysts at Royal Bank of Scotland point out that it was a record-breaking quarter for the US economy with the recovery from the financial crisis became the longest sustained economic expansion in history in Q2 2019.
Key Quotes
“It wasn’t one of the more stellar reports. The 2.1% annualised pace was so-so, slower than the 3.1% pace of Q1. More encouragingly consumer spending is in rude health – 4.3% annualised growth was the best since late 2017. No jitters over the impacts of the trade war there. Corporate America is a different story with business investment declining slightly.”
“All in all, it’s enough to keep the Fed in line to cut 25bps this week.”
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