The U.S. Economy: Hanging In There

A good summary from The Economist:

The American economy may have slowed, but remains fundamentally strong, as it is buttressed by a healthy consumer. Personal consumption, adjusted for inflation, is up by 3% in the past year, having surged in April. The University of Michigan's consumer-confidence index . . . grew strong in May. Even before that, confidence exceeded its average during the 2003-2007 boom. According to a recent Fed survey, 69% of Americans say they are "doing okay" or "living comfortably", up from 62% in 2013. What is more, the rise has been most pronounced among those with only a high-school education.

Source: "When barometers go wrong," The Economist, June 11-17, 2016