CLSA Asks – How Long Can Consumer Spending Growth Carry The Weight Of The US Economy?

Consumer spending growth is supporting  US GDP group, once again. Figures released last week suggest that the US economy grew by a 2.6% annual rate in the fourth quarter of 2017, adjusted for inflation and seasonality. This rate of growth, while slower than the rates of growth recorded for the third and second quarters (3.2% and 3.1% respectively), makes 2017 the most robust calendar year for economic expansion since 2014, when GDP was up 2.7%. [klarman] Consumer Spending Growth Picks Up The Slack Rising consumer spending and capex helped fuel fourth-quarter growth. Consumer spending, which accounts for more than two-thirds of total…