What next for the US?

clock • 5 min read

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 ...

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