U.S. Economic Update: July 2016
Primarily driven by very strong consumption growth, activity looks to have picked up in the June quarter, after a sluggish start to the year.
- Activity indicators point to stronger GDP growth in the June quarter.
- Concerns over the labour market have subsided after the June employment report.
- Brexit is not expected to have a significant impact on the US. However, it adds to risks and uncertainty and so the Fed is likely to stay on hold until December.
For further details please see the attached document