According to the recently released Beige Book of the Federal Reserve, the United States should continue to see modest growth. Most indicators are above their long-term average, the manufacturing ISM and industrial production being exceptions. Headline inflation is also below but the opposite holds for core inflation (both CPI and PCE). The labour market continues to perform well, which supports consumer confidence. However, indicators like retail sales, the non-manufacturing ISM and real GDP in Q1 were pretty close to the long-term average. This reflects that growth is cooling, something which also shows up in the number of data which came in below expectations
Index Eurozone
