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EconoMeter: Will business uncertainty lapse post-election?


Friday, November 4, 2016

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NO: Business concerns continue after the election. The third longest recovery since World War II  remains sluggish despite, or wholly dependent upon, the most stimulus ever undertaken. The economy continues to struggle despite recent release of a suspiciously upbeat preliminary third  quarter GDP estimate. Consumer spending is retrenching as employment growth remains sluggish. With business inventories dropping, average workweek declining, and customer orders plunging, there is little chance for the Fed to raise interest rates amidst such conditions.