Are we right to get excited about the US?

There has been much debate in recent weeks as to whether fervour over US growth is warranted. A slowdown in certain numbers has led investors to query whether the US can remain the primary driver of global growth in 2012. A higher oil price has also compounded concerns about higher inflation. In short, we would prefer to focus on trends rather than isolated data points before significantly shifting our view. We believe the US is now moving, in earnest, from a liquidity-fuelled economy to a fundamental growth-driven one as the Federal Reserve’s stimulus begins to permeate the economy –...