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《Economic Outlook》2017,41(4):28-29
Real GDP grew by 3.1% on annualised basis in Q2 2017, with final sales up 2.9% and inventories adding 0.1pp to growth. Consumer spending rebounded by 3.3%, after a soft Q1, supported by gains across all three major subcategories. Business investment rose by a robust 6.7%, spurred on by firm domestic activity and stronger global growth. Looking ahead, we forecast that GDP growth will average 2.2% in H2. 相似文献
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《Economic Outlook》2017,41(1):31-32
Real GDP advanced by 3.5% on an annualized basis in Q3 2016, with final sales up 3.0% and inventories adding 0.5pp. We estimate that growth moderated to 2.4% in Q4 2016. This would mean that real GDP growth averaged 1.6% in 2016, and we expect it to firm to 2.3% in 2017. We see the Trump administration focusing more on its pro‐growth fiscal agenda than on a protectionist and anti‐immigration platform. We expect that the peak growth effect from increased government infrastructure outlays and tax cuts will occur in early 2018, with average growth that year expected around 2.5%. 相似文献
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《Economic Outlook》2018,42(2):39-40
Real GDP grew by 2.9% on an annualized basis in Q4 2017, with final sales up 3.4% and a 0.5 ppt drag from inventories. Broadly, the data continue to signal that the economy had a solid finish to 2017, with growth at a buoyant 2.6% y/y in the final quarter. For the full year 2017, the US economy advanced a steady 2.3% y/y. 相似文献
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《Economic Outlook》2013,37(3):34-35
Despite a slight downgrade to GDP growth in Q1 and much slower growth expected in Q2 (reflecting the sequester and higher taxes) the recovery appears set to accelerate in the second half of the year. There are encouraging signs that private demand is picking up, with employment growth, consumer confidence and the housing market continuing to strengthen. This will push GDP growth to over 3% by the end of the year and to an average of 2.9% in 2014. The key factors strengthening growth in the face of tigher fiscal policy are: Improving household finances – Consumer spending is being bolstered by wealth effects from strong equity and house prices. Real wages are showing healthy growth again and, combined with rising employment, are helping to mitigate the impact of higher taxes on household disposable income. Moreover, with debt ratios at their lowest levels since 2004, it looks like deleveraging by households is ending. A stronger housing market – housing starts were up 6.8% in May to a level nearly 30% up on a year earlier. We expect residential investment to increase over 13% in 2013 and a further 9% in 2014 despite recent increases in mortgage rates. Increased home sales will also boost spending on furniture and appliances, which are often bought when people move home. Competitive manufacturing sector – US unit labor costs are the most competitive in over 30 years, and many firms are also benefiting from relatively low natural gas prices. This is supporting exports in the face of subdued world demand, although the trade deficit has deteriorated as stronger domestic demand has lifted imports. Improved competitiveness is also encouraging higher investment, which is back to pre‐recession levels… 相似文献
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