Does this mean the Trump economy / stock market, may pay handsomely while some of us are on the golf course next week, ......................... AGAIN!!! ...... I hate when that happens.
“The U.S. services sector grew at a faster rate than expected in August, the Institute for Supply Management said Thursday. The data offset worries from the manufacturing sector. The ISM said Tuesday that the U.S. manufacturing sector contracted for the first time since early 2016.
Meanwhile, the Labor Department on Friday reported better-than-expected U.S. wage growth for August at a time when consumer spending is strong. However, the report also showed jobs growth slowed for a third straight month.
“The U.S. economy should avoid recession,” Gus Faucher, chief economist at PNC, wrote in a note. “With slower, but still-solid job gains and good wage growth, households will continue to spend; consumer spending accounts for almost 70 percent of the U.S. economy.”
Investors will get more information on the state of the consumer next Friday with the release of August retail sales and a preliminary look at September consumer sentiment. Positive data on that front COULD LIFT STOCKS TO THEIR RECORDS”. CNBC
“The U.S. services sector grew at a faster rate than expected in August, the Institute for Supply Management said Thursday. The data offset worries from the manufacturing sector. The ISM said Tuesday that the U.S. manufacturing sector contracted for the first time since early 2016.
Meanwhile, the Labor Department on Friday reported better-than-expected U.S. wage growth for August at a time when consumer spending is strong. However, the report also showed jobs growth slowed for a third straight month.
“The U.S. economy should avoid recession,” Gus Faucher, chief economist at PNC, wrote in a note. “With slower, but still-solid job gains and good wage growth, households will continue to spend; consumer spending accounts for almost 70 percent of the U.S. economy.”
Investors will get more information on the state of the consumer next Friday with the release of August retail sales and a preliminary look at September consumer sentiment. Positive data on that front COULD LIFT STOCKS TO THEIR RECORDS”. CNBC
