Recent economic data continues to reinforce a simple fact: U.S. economic growth is accelerating and Europe’s is slowing.
Consider France, where consumer spending slowed recently from 1.7% to 1.2%.
“The U.S.A. is not France,” says Hedgeye CEO Keith McCullough in the video above from a recent edition of The Macro Show. Our call is for U.S. growth to continue accelerating throughout 2017. U.S. GDP numbers just accelerated to 3.1% quarter-over-quarter in the second quarter.
That’s the highest growth since March 2015.
Accelerating growth in Europe? Don’t count on it. As McCullough says, “It’s the damnedest thing, but people on Wall Street, who have never been to France, are convinced that it’s different this time in France. France is going to get older and older in their key spending cohorts and they still have socialists running France.”
Watch the video above for more.
