China's economy is expected to continue its extended cycle of strong growth, thanks to the pivotal role it plays in the global supply chain. China's solid manufacturing base is essential to neighboring Asian economies, which export key electronic components. Its emerging middle class and growing consumerism will continue to attract capital goods and luxury items from the rest of the world.
I get to watch traffic flows in every sector of every economy in the world on a real time basis.
Some kind of adjustment has to happen. Home prices have been growing so fast for so long, outstripping income growth for many years.
Economic growth continues on a healthy and sustainable pace with recent indicators suggesting that the holiday season will be solid. Improving trends in merchandise sales, business orders, the services sector and employment in the U.S. remain in place, and this bodes well for holiday sales.
With consumers spending more time online, e-commerce will likely drive more holiday activity this season than in the past.
The current momentum is pretty solid.
A mid-cycle environment is all about sustainability.
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