US Economic Update – US GDP Q2 2013

US GDP rose by 1.7% (annualized rate) in the June quarter, an improvement on the March quarter, but still only a modest rate of growth. The stronger growth largely reflected a pick-up in business investment and a much smaller detraction from growth from public demand.

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  • US GDP rose by 1.7% (annualized rate) in the June quarter, an improvement on the March quarter, but still only a modest rate of growth.
  • The stronger growth largely reflected a pick-up in business investment and a much smaller detraction from growth from public demand.
  • We expect GDP will grow by 1.5% in 2013 (previously 1.8%) and 2.7% (unchanged) in 2014. The downwards revision in 2013 largely reflects downwards revisions to historical data.

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