Increasing employment and income data suggest that retail sales could accelerate even more from here.
Anticipating that the Fed will prolong its stimulus efforts, markets jumped this week on anemic economic news and so-so earnings.
But the economy is not all roses, either.
Why Morningstar's Bob Johnson is not the most optimistic guy on the street.
Lackluster ADP data suggest that August's mediocre job growth likely seeped into September, too, says Morningstar's Bob Johnson.
The report for December indicates that the economy is neither falling apart nor accelerating in any meaningful way, says Morningstar's Bob Johnson.
Shopping center data hit new highs, auto sales broke all expectations in June despite strong headwinds, and pending home sales made one of their biggest jumps in the recovery.
A skills mismatch and lack of labor mobility could trouble the employment market.
Even amid market mood swings courtesy of the Fed, steadily rising employment offset weak manufacturing data.
Amid shifting consensus estimates, my moderately bullish U.S. GDP growth outlook remains relatively unchanged, writes Morningstar's Bob Johnson.