United States Economic Update – 17 July 2015

US GDP slowed in the March quarter – extreme winter weather, plunging oil prices, strong $US appreciation and port disruptions all likely factors of influence.


US Economic Update July

  • After declining in the March quarter, partial data indicate that the economy resumed growing in the June quarter.
  • Due to the revision to first quarter GDP we have raised our 2015 GDP forecast from 2.3% to 2.4%.
  • We still expect that the first increase in the fed funds rate will be in September although the risk around this is for a later start.

For further details please see the attached document.

US Economic Update – 17 July 2015 (PDF, 183KB)