Second-quarter financial progress is anticipated to be sturdy. Nevertheless it could be downhill from there.
That is the forecast from Bricklin Dwyer, senior economist at BNP Paribas North America. That is in all probability nearly as good because it will get, he says.
Dwyer will be a part of CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday to debate the well being of the financial system and the place the market is headed.
Many economists, together with Dwyer, are predicting massive second-quarter good points due to the Republican tax cuts and a good labor market. Economists surveyed by Thomson Reuters anticipate a progress fee of four.1%.
The financial system grew at only a 2% tempo within the first quarter. It has been rising for 9 years, the second-longest increase on document. However Dwyer thinks the financial system’s momentum will in all probability fade.
He does anticipate sturdy progress for the remainder of the 12 months. And he says the markets will reap the benefits of the additional juice nonetheless left within the financial system.
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CNNMoney (New York) First revealed July 24, 2018: three:52 PM ET