Dan Celia: America’s Economy Needs Synchronized Global Growths
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is reminding his viewers and listeners that with the end of a month comes new economic data. This week, Celia is discussing these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 television and radio stations nationwide.
“This week, we will see numbers on consumer spending and personal incomes—two important figures,” Celia said. “On Tuesday, we’ll see construction spending—one of my favorite numbers—which was very anemic for the month of February. Hopefully March will pick up a bit. Also due out is the trade deficit, which has been in the news frequently, as well as first-quarter productivity numbers, and analysts are really looking for that to pick up, especially since the previous quarter came in at zero. The big report everyone will be watching for, as usual, is payroll. Nonfarm payrolls are expected to be higher than average for an April number.
“Back in January,” Celia continued, “the International Monetary Fund estimated that the world’s seven biggest economies: the U.S., China, Germany, Japan, France, the UK and India, grew more than 1.5 percent in 2017. This was somewhat of a synchronized growth and is relatively uncommon, but could have set the world economy up for solid growth for 2018. It seems that this view is waning a bit, we may not be able to look forward to that kind of global growth after all. Why is that a problem? America cannot grow purely on its own. To have lasting growth, it is important to see synchronized global growth. This is certainly something I will be looking at for the rest of the week, as we continue to examine what’s happening globally.”
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