Key points:

• US GDP grew solidly for the third consecutive quarter to end 2017.
• The composition of GDP growth was also positive with consumption strong and business investment accelerating.
• We have lifted our forecast for 2018 GDP growth from 2.4% to 2.7%, but still expect growth to slow in 2019 as the Fed returns monetary policy to a more neutral setting, this year’s fiscal stimulus impacts fade and capacity constraints bite.

For further details please see the attached document:

• US Economic Update: Q4 GDP 2017 (PDF, 72kb)