US Economy is ‘Paradox’ of Strong Growth, Underlying Weakness: EY’s Daco

Gregory Daco, Chief Economist at EY, joins Bloomberg Businessweek Daily to discuss the state of the US economy, saying that he currently sees a “paradox” of strong growth paired with underlying weakness and a bifurcated consumer. Meanwhile, US consumer sentiment unexpectedly improved to the highest in six months, largely propelled by wealthier Americans who have benefited from stock-market gains. The preliminary February sentiment index increased to 57.3 from 56.4 in January, according to the University of Michigan. Daco has discussed in recent months the “three A-pillars” of the US economy, which includes the affluent consumer. Daco speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)