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United States
Publication year - 2016
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12200
Subject(s) - economics , investment (military) , drag , offset (computer science) , government spending , consumer spending , monetary economics , international economics , macroeconomics , market economy , welfare , recession , politics , political science , computer science , law , programming language , physics , thermodynamics
Real GDP rose by 2.0% on an annualized basis in Q3 2015, with final sales up 2.7% and inventories exerting a 0.7pp drag on growth. Consumer spending grew a solid 3.0%, contributing 2.0 percentage points to GDP growth. Business investment advanced 2.6%, led by growth in equipment spending, while residential investment rose by 8.2%. Net foreign trade posed a 0.3pp drag, but was offset by a boost from greater government spending. We see the economy growing by 2.2% in 2016, down from 2.4% in 2015. The picture remains one of solid domestic fundamentals constrained by global headwinds.