A U.S. Wobble?

Over the past few weeks there has been a constant positive in the global economy and that has been the U.S. Today however, has been the first time in a little while that some core data has slightly undershot expectations. I don't consider this a moment to sell and run to safe haven assets, and it should be noted the data only disappointed slightly.

The data in question was final quarter GDP and unemployment claims, with GDP coming in at 0.4%, not the expected 0.5% and unemployment claims at 357,000, above the expected 340,000. So what does this mean for the U.S. economy? Well I don't think too much; they have witnessed quarter on quarter growth in absolute terms which is positive given the global economic backdrop. The unemployment claims figure does just reiterate that QE is unlikely to be stopped anytime soon, and this could actually be a positive for markets, which have been fuelled by money printing. 

For me the U.S. is still the leading developed nation, and with its skilled workforce, cheap energy (Reshoring) and distance from Europe should continue on its recovery path over the months and years ahead - so no need to panic just yet!