Each month, our Heritage Investment team publishes a market brief to provide an overview of the major factors influencing the US economy, including a summary of key sectors and the current positives & challenges.
Click Market Brief July 2017 for updates.
Here are some key highlights:
- Non-farm payrolls beat consensus expectations, adding 222,000 jobs in June
- The ISM Manufacturing Index surged nearly 3 percentage points in June to 57.8, driven by strong new orders, production, and backlog
- Consumer confidence came in at a strong 118.9, the highest posting in 16 years
- Consumer inflation remains weak which does not support the Federal Reserve’s plan to increase interest rates and reduce their bond buying
- Consumer spending will likely remain relatively weak if income continues to slip
- Housing remains soft as indicated by relatively weak pending home sales and building permits