US Economic Update – May 2013

US GDP rose by 2.5% (annualized rate) in the March quarter. Underlying trend is modest growth. We are forecasting GDP growth of 2.1% in 2013 and 2.9% in 2014. While GDP growth will likely moderate in the current quarter it should strengthen in the second half of the year.

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  • US GDP rose by 2.5% (annualized rate) in the March quarter. Underlying trend is modest growth.
  • We are forecasting GDP growth of 2.1% in 2013 and 2.9% in 2014. While GDP growth will likely moderate in the current quarter it should strengthen in the second half of the year.
  • The potential growth rate of the U.S. economy has slowed down, and this lower growth rate is expected to be maintained into the future.

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