The US manufacturing sector is struggling with a stronger USD and weak global demand, which has weighed on production recently. Somewhat better growth is expected in April and look for manufacturing production growth of 0.3% m/m. A stronger pace of private consumption is key to the outlook for US growth this year. Consumers are expected to spend some of their savings from Q1 in coming months as the improvement in the labour market continues and consumer sentiment remains high.Danske bank expects an increase in the May preliminary University of Michigan consumer sentiment to 97.0, which is only topped by the January release in the current cycle.
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