Shoppers wait to enter the Macy’s department store in New York on Thanksgiving Day, November 28. Photo: AFP
Opinion
Opinion
Macroscope by Nicholas Spiro
Why American consumers will remain a bright spot in the troubled global economy
US factory output is shrinking, but the economy is holding up because of robust private consumption
One reason why Trump hasn’t backed down in the trade war may be that key battleground states in the presidential election have enjoyed the strongest growth in personal income
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.