The raft of upbeat signals recently is causing some key Wall Street economists to push up their expectations for economic growth.
Both Goldman Sachs and Morgan Stanley have nudged their estimates higher for the full year in 2018. Under the projections, gross domestic product now will rise at least 3 percent, a number directly in line with what President Donald Trump says his policies will sustain over the longer term.
There’s a catch — both banks say the rise is only temporary, with growth steering back towards the longer-run trend that has seen the U.S. economy barely expanding by 2 percent a year since the last recession ended.
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