Tuesday, October 09, 2018
Global investors are betting on America's economic success now more than ever, Morgan Stanley's Ruchir Sharma told CNBC on Monday. "This year has been a story of how well America has done," he said on "Squawk Box," calling it an example of "American exceptionalism." "We may or may not believe in [American exceptionalism], but the financial markets have never believed in it to such an extent," added Sharma, head of emerging markets and chief global strategist at Morgan Stanley Investment Management.
Second-quarter gross domestic product gained 4.2 percent, according to the government's final reading. And it appears the momentum has continued. The Atlanta Fed's GDPNow real-time indicator put the third-quarter growth at 4.1 percent, as of Monday. Combine those figures with the first quarter's 2.2 percent gain, and the economy stands to grow at an average of 3.5 percent for the first nine months of 2018.
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