An Economic Review Of Second-Quarter 2017
Conway Wealth Group CEO, Michael Conway, shares his thoughts on second-quarter economic trends, markets, and political drama.
Speaker 1: Hi everyone. Hope you’re off to a fantastic summer. Already halfway through the year, we wanted to give you an update about what’s going on in the world. As I’m sure you’ve noticed, a lot has been going on, to say the least. The economy has continued to grind along posting 1.4% GDP growth in the first quarter and a forecast of 2.3% for the second quarter. We’ve seen some good signs in the labor market with the unemployment rate hitting its lowest level in 16 years. We’re still waiting on wage growth to improve. While there are some concerns in the world, consumers seem to be shrugging them off as consumer confidence remains near a 16 year high. Then there’s our political climate. Our President promised policy changes that investors love to hear, especially things like reduction in taxes and more infrastructure spending. As I’m sure you’ve noticed, we’ve so far gotten more drama than action.
Still, equity markets sit near all time highs. Somehow amid all that’s going on, stock market volatility remains historically low. Meanwhile, the bond market has flashed some signals of slow down. Where does this leave us? Right to the place that’s hopefully becoming familiar to you. Sticking to your plan and trusting in a long term, well diversified portfolio. No one can truly predict what’s to come and as we continue to keep eyes on all that’s going on in the world, enjoy your family, enjoy your life, and have a fantastic rest of your summer.