US: GDP growth accelerating - BNPP

According to analysts at BNP Paribas, US GDP growth is accelerating along with the recovery in the emerging countries and reinforcing world trade, but the fiscal outlook remains uncertain.

Key Quotes

“Tax cuts would add +0.5 pp to the GDP growth this year, that would trend near 3%.”

“The labour market is as buoyant as ever, showing its first signs of tension (participation rates and real wages are up).”

“Fed Funds rates: 1.75% in Q1 2018, 2% by mid-2018.”