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Article: United States: a soggy recovery story: the US stock market continues to be boosted by robust consumer spending and expanding industrial output. (World Markets).(Brief Article)
- Article from:
- What Investment
- Article date:
- June 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Vitesse Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Whilst there are clear signs that the US economy is improving, it is less certain that this will be reflected in improved profit figures for US companies. With the first quarter reporting season now in full swing, John Hatherly, head of global analysis at M&G, comments: "After the shortest recession since the Second World War, the US economy is recovering strongly. Consumer spending remains robust and industrial output is expanding again. This has bolstered the US stock market, with cyclical industrial stocks such as Boeing and General Motors leading the way."
However, he also maintains that, although an economic recovery is reassuring, investors are looking for ...