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.