Economic Outlook: Summertime, and the Livin’ is Easier

July 24, 2019

We believe there is still life in the economic expansion, both in the U.S. and globally

Snapshot: 

  • Canada’s gross domestic product accelerated over the 12-month period ending May, while total employment recorded the strongest year-over-year gain since 2003
  • We believe there is still life in the economic expansion, both in the U.S. and globally.
  • For our view to change there would need to be severe deterioration of financial and leading economic indicators

Things are looking up for Canadians. The Toronto Raptors brought the NBA championship trophy from south of the border. U.S. President Donald Trump’s administration lifted aluminum and steel tariffs in the middle of May. After a brief flare-up with Mexico, the U.S. appears back on track to eventually pass the United States-Mexico-Canada Agreement trade deal, which replaces the North American Free Trade Agreement.

Read the commentary to get our full analysis. 

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