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PNC Wealth Management Executive V.P. Jim Dunigan on the outlook for the economy.
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'cause you we were talk about economic growth and and the effective that has on the on the market as a whole it's been pretty miserable for the past a couple of months and in fact.
The very latest figures that -- getting our are even more discourage you understand why Bernanke went all in when he did last week.
Particularly when you look at the New York -- empire state figures on manufacturing which were terribly low much lower than expectations and then you look at the FedEx warning.
Which led to its own stock going down about 2%.
Does that does the FedEx warning and and the empire state warnings about manufactured.
Does that weigh in on your strategy at all here -- without a doubt -- at least talked about the top of the show that the optimism within homebuilding.
And I think that's part of the -- sad task combined mortgage backed securities that -- to.
200 -- Jim I'm just -- with all these other figures and and particularly the ones that that -- Bernanke as much as he was concerned.
Is that one read strong enough to hold up the economy.
All I think it's gonna be a -- -- How team has been a drag on the economy for the last number of years so you can just increase that from a drag of -- about half a percent or 1% to a positive about half a percent.
That's a big positive for the market.
Not manufacturing will have its up and ups and downs.
We've -- our third year about growth slump as we head into that summertime but I think they'll start to see particularly with the Fed's activity.
That growth start to pick up and I'm not talking about -- off the charts we're talking about a moderate growth of 22 and a half percent did you get into -- 2013.
I'm GDP but it's growth nonetheless the Fed is committed to continue to -- jobs in this economy I think you're gonna start to see.
As I say the beginning of the end of that slumping in growth and we'll start to see some better news going forward.
Better news.
