United States |
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| Abstract: | Real GDP rose by 2.0% on an annualized basis in Q3 2015, with final sales up 2.7% and inventories exerting a 0.7pp drag on growth. Consumer spending grew a solid 3.0%, contributing 2.0 percentage points to GDP growth. Business investment advanced 2.6%, led by growth in equipment spending, while residential investment rose by 8.2%. Net foreign trade posed a 0.3pp drag, but was offset by a boost from greater government spending. We see the economy growing by 2.2% in 2016, down from 2.4% in 2015. The picture remains one of solid domestic fundamentals constrained by global headwinds. |
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