LONDON, February 2, 2017 /PRNewswire/ --
Unsurprisingly, newspaper headlines are still dominated by Donald J Trump's move into the White House and implementation plans for his new policies. However, moving forward, President Trump is likely to be more interested by important economic reports that will reveal the economic health of the United States.
The reports will no doubt inform the new President that the economy is in a fairly decent state even before his planned construction spending and pledged tax cuts.
President Trump's economic schedule has been relatively light apart from an intentionally busy first few days in which he withdrew the U.S. from the Trans-Pacific Pact (TPP) and lifted restrictions on energy output.
Analysts in economic circles will await details on the President's spending package, which still needs to go through congressional scrutiny.
U.S. growth figures are likely to overshadow even meetings of the Federal Reserve, the Bank of Japan and the ongoing sitting of the European Central Bank. UK growth figures will also come around a week after.
Conservative estimates have the economy growing at a 2.3 percent annualized rate at the end of last year, liberated from the drag on investment brought about by the energy price collapse and spurred by steady consumption figures. The figure is still a step down from an outstanding Q3 of 3.6 percent expansion.
"Confidence in the U.S. economy should be steady at the moment and although the recent figures aren't going to be as good as last quarter they will still point to an optimistic near future for expansion," said Andrew Foster, Director of Corporate Equities at Aichi BMO International.
Most experts believe Trump's fiscal policies will encourage an acceleration of U.S. economic expansion in the next 24-months and a report by Aichi BMO International recently concluded that infrastructure spending alone would add 1 percent growth should Mr Trump follow through with campaign pledges.
An interview with UniCredit head strategist Harm Bandholz struck a more conciliatory tone, as he thought the economy would only see the benefits towards the end of this year.
Media Contact: Michael Stone, Aichi BMO International (ABMOI), +1 647 243 8020, email@example.com
SOURCE Aichi BMO International