US markets have recently been unsettled by weak economic readings. Peter Allwright, manager at RWC Partners, looks at what lies in store for the region.
After the US recorded disappointing first quarter GDP growth (+1.8% vs. +3.1% for Q4 2010), hopes of a strong rebound in Q2 are now being undermined. Markets have been unsettled by weak economic and survey readings, such as: Rapid falls in the ISM manufacturing and ISM non-manufacturing surveys. Admittedly they are still at levels consistent with growth, but the speed of the declines is worrying; A very weak non-farm payrolls figure for May (+54k vs. expected +165k); and Stubbornly high unemployment, that actually increased in the past two months (the unemployment rate is now at ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
