Oakland Industrial 2017 Q2 Industrial ReportStrong Industrial Sector Continues Impressive Run

Much of the geopolitical and macroeconomic uncertainties present at the start of the new year has largely remained intact, while key economic indicators offer a mixed picture of the national economic recovery. The labor market is close to reaching full employment, beating job growth expectations every month of the quarter, and hovering near 10-year lows at 4.4 percent. Slowing wage growth suggests that the labor market still has room, however little, to improve. Weak growth in consumer spending amidst job and wage growth, high consumer confidence, and high stock prices, presents somewhat of a puzzle, with some suggesting that delays in receiving tax refunds from the IRS left many with less spending money compared to previous years. Given that much of the Republican agenda has yet to be implemented, it is still too early to discern the President’s impact on the economy or market trends, though not much has changed in the way of economists’ overall perception that the current economic cycle is still closer to the end than to the beginning.