US Economy: Next Week Is All About Consumer Spending

Economic data released this week confirmed the short-term US economic outlook remains positive, despite a weak economic scenario abroad.

Despite declining from 53.2 to 52.6 (consensus at 53), the July ISM manufacturing index remained at a value in line with a moderate growth rate for the US economy. Indeed, according to ISM institute, “if the PMI® for July (52.6 percent) is annualized, it corresponds to a 3 percent increase in real GDP annually.

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