J.P. Morgan Asset Management - The Weekly Brief

04.08.2014 10:38 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die USA haben den schwachen Start in das Jahr 2014 einfach abgeschüttelt: Die Wirtschaft wuchs im zweiten Quartal um 4% im Vorjahresvergleich. Dieser stärker als erwartete Aufschwung zeigt, wie verzerrt die Zahlen des ersten Quartals durch einmalige Ereignisse waren. Das rasante Wachstum der Lagerbestände wird etwas negativen Einfluss auf das Wirtschaftswachstum der kommenden Monate haben, dennoch verfügt die US-Wirtschaft über genug Kraft für ein gutes Momentum im zweiten Halbjahr. Die korrigierten Zahlen zeigen, dass die US-Wirtschaft in den letzten vier Quartalen um 2,4% gewachsen ist und dass die durchschnittliche Wachstumsrate in 2013 tatsächlich bei 3,1% lag und nicht wie zuerst angegeben 2,6%. Die Inflationsrate könnte für die US-Notenbank wichtiger werden, wenn das Momentum anhält. Auch die besseren Wachstumszahlen könnten für einen früheren Zeitpunkt für eine Zinserhöhung sprechen.

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