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Economic Data Shows Continuing Growth Of Trump Economy, Despite Market Sell Off

Economic Data Shows Continuing Growth Of Trump Economy, Despite Market Sell Off
Shops on Broadway, New York

As the market deals with a much expected and healthy correction, the economic data keeps coming incrementally showing a growing economy under Trump administration policies. In short, personal income is growing, trade balance is shrinking, personal spending is increasing, and manufacturing is growing; consumers feel optimistic.

For the most part, the data is prior to the brunt of the coronavirus outbreak, which will most likely force a slowdown in certain sectors of the American economy.

Personal Consumption Expenditures – Price Index (YoY) (Jan) printed at the estimate of 1.7%.

Core Personal Consumption Expenditure – Price Index (MoM) (Jan) printed at 0.1% vs 0.2% consensus estimate.

Wholesale Inventories (Jan) PREL printed at -0.2% vs estimate of -0.6%.

Personal Income (MoM) (Jan) printed at 0.6% vs 0.3% estimate.

Goods Trade Balance (Jan) printed at -$65.5B vs estimate of -$68.7B.

Personal Consumption Expenditures – Price Index (MoM) (Jan) printed at estimate of 01.%.

Personal Spending (Jan) printed at -0.2% vs estimate of 0.3%.

Core Personal Consumption Expenditure – Price Index (YoY) (Jan) printed at 1.6% vs consensus of 1.7%.

Chicago Purchasing Manager’s Index (Feb) printed at 49 vs 45.9.

Michigan Consumer Sentiment Index (Feb) printed at 101 vs 100.9 estimate.

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