Are you bullish enough on U.S. growth? That's a healthy question all investors should be asking themselves, especially in light of some seriously hot U.S. economic data this morning. The February Consumer Price Index (CPI) reading is just shy of a five-year high as reported this morning.
And despite Bloomberg suggesting Retail Sales "posted the smallest gain in six months" (on a month-over-month basis), year-over-year retail sales data hit the highest level since March 2012.
(Click here to read a wrap of recently reported U.S. economic data.)
Hedgeye vs. Wall Street: U.S. Growth
So what's our current U.S. economic outlook? As you can see in the Chart of the Day below from today's Early Look, we're significantly more bullish than Wall Street consensus. Here are the numbers...
- Hedgeye U.S. Real GDP estimates (year-over-year): Q1 = +2.28%; Q2 = +2.59%; Q3 = +2.89%; Q4 = +3.09%.
- Wall Street Consensus Real GDP estimates (year-over-year): Q1 = +2.20%; Q2 = +2.45%; Q3 = +2.20%; Q4 = +2.30%.
Does your portfolio reflect the bullishness to come?