Ahead of this week's trade talks between the two countries, the timing of the U.S. action "is going to be awkward for the Chinese."
With income outpacing expenditures, consumers may have "a good amount of cushion to sustain spending if or as the economy slows."
“The consumer is still very sturdy and providing fundamental strength to the overall economy,” an economist says.
The government's second estimate of GDP showed a rebound in corporate profits as businesses benefited from strong consumer spending.
Sales increased 0.7% in July, "a reassuring sign for a U.S. economy that’s facing mounting hurdles."
"The trend in durable goods orders remains decidedly weak" amid worries about a global growth slowdown and trade tensions.
The housing market continues to struggle despite lower mortgage rates.
Trade tensions between the United States and China continue to spur volatility.
“We expect further bumps along the road for manufacturing as a slowing global economy and escalating tariffs on major U.S. trading partners pose headwinds."
“The economy is in a sweet spot for now," with inflation pressures remaining too weak for the Fed to raise interest rates.
GDP got a boost in Q1 from a sharp decline in imports but economists warn that underlying spending and investment data point to slowing growth.
“Waiting for construction activity to pick up after a sharp drop in mortgage rates is like waiting for Godot."
