Moody’s Investors Service said in a report that US economy will continue expanding with annual growth rates just over 2 percent during the first two years of President-elect Donald Trump’s administration, providing a stable environment for US companies despite an uncertain global outlook.

The US economy will continue expanding with annual growth rates just over 2 percent during the first two years of President-elect Donald Trump’s administration, providing a stable environment for US companies despite an uncertain global outlook, Moody’s Investors Service said in a report on Monday.

“Moody’s estimates that US GDP will grow 2.2 percent next year, and 2.1 percent in 2018,” a press release explaining the report stated.

“The agency’s industry outlooks are mainly stable, and negative signals are contained and not pervasive.” Much of the report focuses on the availability of credit. “Our stable outlook for North American corporates next year reflects an overall accommodative credit environment, with an easing corporate default rate,” Moody’s Senior Vice President Bill Wolfe said in the release.

The primary risks facing US corporations stem from low and uneven growth throughout Europe and an ongoing and gradual economic slowdown in China, the report added.

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