Overview:

• 2017 has proved to be another year of solid US economic growth and more of the same is expected in 2018, helped along by fiscal stimulus.
• Business survey readings are at high levels, as is consumer confidence and employment gains are strong enough to reduce the unemployment rate over time.
• Even inflation, surprisingly subdued this year, is showing signs of life; this will need to continue for our expectation of three more rate hikes in 2018 to be met.

For further details please see the attached document:

• US Economic Update: December 2017 (PDF, 105kb)