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Today, we share a note from The Observatory. The Observatory is how we at Prometheus monitor the evolution of the economy and financial markets in real-time. The insights provided here are slivers of our research process that are integrated algorithmically into our systems to create rules-based portfolios.
Our primary takeaways are as follows:
- For the latest data through August, our systems place Real GDP growth at 4.01% versus one year prior. In April, GDP came in at -0.01% versus the prior month.
- Consumption and government Expenditure have been the primary drivers of real activity over the last month, while business investment dragged on activity.
- Looking forward, we expect to remain in a macro regime of high nominal GDP and above-target inflation. This expectation continues to favor pro-growth assets over anti-growth ones. Our Asset Allocation strategies will rebalance on Monday in a manner consistent with these expectations.
You can read all the data and analysis driving this assessment in the link below. Until tomorrow.