The Shifting Tides of World Growth
As U.S. growth remains relatively anemic, the rest of the world is looking slightly better.
Editors' note: Robert Johnson was traveling on Friday, but the 2.6% growth in GDP for the second quarter was in line with his expectations and recent trends.
This week's economic releases were consistent with recent trends and were, on balance, slightly more positive than expectations. New-home sales, wholesale and retail inventories, durable goods, and net export data were all more positive than expected.