We obviously will have to refine (or even revise) our 2017 forecast.

On the one hand, many firms will be confronted with a new environment: in the coming months, uncertainty on trade and immigration policies could hinder equipment investment in many sectors.

On the other hand, this drag on equipment investment could be offset by the stimulative effect of the other measures. Deregulation in the energy sector could trigger some new investments in the shale oil industry. At the same time, the infrastructure effort could also provide some support. And, remember, Donald Trump has also promised that more public money will be spent on defence and Veterans.

Clearly there are some upside risks to our baseline scenario… but political and market turbulences could also come into play. So, for the moment, and until we see you all at our next roadshow, we are keeping our 2% growth forecast for the US economy in 2017.

More details

AUDIO

by Florence Pisani, Global Head of Economic Research

Candriam's views on the US election



Our views
on
us election

Read more