US Economic Update – July 2012

The recent softness in economic indicators continued over the last month, and now point to GDP growth in the June […]

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  • The recent softness in economic indicators continued over the last month, and now point to GDP growth in the June quarter being slightly weaker than the March quarter’s modest pace.
  • While we still expect GDP growth to strengthen in the second half of the year we have trimmed our growth expectations for 2012 (from 2.2% to 2.1%) and 2013 (from 2.9% to 2.7%).
  • While unlikely at the next FOMC meeting (particularly in the form of QE), further unconventional easing measures by the Fed remain a possibility.

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