Retail sales in April were strong. After the very good news from the labour market, it is additional evidence that the US economy avoided the spring swoon this year. Strong job creations seem to have offset the drag on households’ disposable income from the rise in the payroll tax hike earlier this year. GDP growth is set to surprise (most, but not us…) on the upside.
Click here to read the full report: Economic Research
BNP Paribas