US: GDP growth is accelerating - BNPP

US GDP growth is accelerating along with the recovery in the emerging countries and reinforcing world trade, points out the research team at BNP Paribas.

Key Quotes

“The fiscal outlook remains uncertain. 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.”