America's Economy Pulling Away
All models of global growth jive with current economic trends showing America pulling away -even in the International Monetary Fund (IMF), which appears to be much too conservative with the U.S. GDP estimates for 2018.
The Atlanta Fed Gross Domestic Product (GDP) model is back at 4.4% for the quarter after benign inflation and strong retail sales (with revisions).
Production and capacity utilization continue to be robust. Mining capacity rose to 92.0% from 84.0% a year ago, and mining and business equipment moved the needle for production. The manufacturing sector of the economy is enjoying a miraculous revival.
In recent months, Caterpillar Monthly Retail Sales (CAT) have grown faster in North America than the rest of the world. The demand has paced equally by construction and resource product growth.
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