Still Coming Up Trumps
by AIB Treasury Economic Research Unit
- The US economy continues to strongly outperform Europe, as it confounds fears that it could enter recession this year.
- The outperformance of the US economy in recent years can be put down to a number of factors
- The reality is that the US has been outperforming the European economy for many decades and continues to do so, reflecting stronger labour force and productivity growth.
- The surprising strength of the US economy in 2023 is reflected in the 17.5% rise in the S&P 500 stock market index year -to-date.
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