Shifting balance of risks sees February 2025 firm for first rate cut – but easing still likely gradual.
Insight
December 12, 2016
US Economic Update: December 2016
After a strong third quarter, the US economy remains on a solid footing based on the most recent partial indicators.
Key points:
- The US economy remains on a solid footing, although growth is likely to moderate in the December quarter.
- After the large fall in the unemployment rate in November, the Fed looks set to raise the feds fund rate this month.
- We have incorporated an allowance for fiscal stimulus starting in the second half of 2017, leading to an increase in our 2018 GDP growth forecast.
For further details please see the attached document
More from NAB:
- China Economic Update: November 2016
- Australian GDP Preview: Q3 2016
- NAB International and foreign exchange
