Ellie Donnelly: Consumer spending driving US economy but demand to come under pressure
The chances of a recession may have decreased but that doesn’t mean that the good times can last forever
The US economy has been defying gravity recently, registering growth of 2.1 per cent and surpassing expectations during the second quarter of this year.
Household spending, particularly on services, has remained particularly strong while export demand continues to be healthy too.
Just last week Goldman Sachs lowered its estimate for how likely it is that the US economy would fall into recession over the next year to 15 per cent. This marked a significant reduction ...