Action Economics Survey results
Action Economics Survey results: trade tensions remained prevalent this week after the U.S. threatened additional levies on Chinese goods. Brexit and NATO issues also made headlines. Yet, stocks are in rally mode on this Friday the 13th and are ending the week on generally positive footing. Economic fundamentals remain supportive, however, even if a strong earnings season has been priced in. This week's Survey Medians project decent gains in upcoming sales and production reports. Retail sales are expected to rise 0.5% overall, and post a 0.4% gain excluding autos. Industrial production should rebound 0.6%, boosting capacity utilization to 78.3%. Meanwhile, Advance Q2 GDP growth, due out on July 27, is forecast at a 4.0% rate.