United States• It was another solid week for equity markets, as S&P 500 increased 1.5% and the Dow Jones soared to new highs on the year.• However, following February’s personal income and spending report, it has become clear that economic growth will come in below the 3.0% mark that many economists were forecasting only a few weeks ago.• Slower Q1 growth will, however, prove temporary as conditions in the job market appear to finally be gaining some real traction and personal spending is well positioned to accelerate during Q2.
Canada• Political tensions in the Middle East and natural disasters in Japan have dominated market activity in March. In light of the relatively quiet week, we summarize the domestic data releases last month and decipher how they fit into our economic outlook.• Data confirm that Canadian growth is shifting away from domestic demand elements (e.g., households, housing) to exports and business investment. We expect this compositional change to become more fully entrenched over the next few months
Like always make sure you not only take in mind one bit of information but the overall picture. So far this information is quite good but keep this in mond.
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