020 7898 0500The American economy did not perform as well as initially thought in the first quarter of 2018. Figures released yesterday showed that growth slowed to 2% from a previous estimate of 2.2%. It is expected that the economy will show a significant recovery in the current quarter, as Trump’s tax cuts have boosted demand, and some are predicting an annualised rate of 4.5% next time around.
The dollar performed well against the pound but weakened against the euro following some positive economic data releases from the eurozone. Still, the dollar has been doing well of late and figures released on Wednesday showed that exports have not suffered as a result.
The final reading of the University of Michigan’s consumer sentiment will be released today. It is forecast to increase to 99.2 in June from 98 in May. We’ll also see the personal income and spending figures for May.
