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Ken Mayland Economic Update

Jun 07, 2017

Dr Ken Mayland (President, ClearView Economics LLC) shares his latest comments on the economy from the perspective of our manufacturing businesses. The economy continues to plod along.  Q2 GDP growth will be considerably better than Q1 (+1.2%, Q/Q, inflation-adjusted, at an annual rate). There is some arithmetic which indicates 3%+ is possible, but at least +2.5% growth is close to a sure thing.  The monthly jobs report is probably the most important economic news item of any month. And Department of Labor reports a record number of job openings, particularly in manufacturing.

Things to look for in this update: A small concern is the rolling over the “long lead” leading indicators – Housing Starts and Light Vehicle Sales (see Chart #4).  The question here: will downtrends extend and will the behavior here be echoed by other indicators. Also, It is gratifying to see the pick-up in manufacturing momentum (See Charts #1 and #6b).