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United States

Publication year - 2017

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 - 10.1111/1468-0319.12277

Subject(s) - economics , inflation (cosmology) , investment (military) , consumer spending , monetary economics , real gross domestic product , macroeconomics , international economics , recession , physics , politics , theoretical physics , political science , law

Real GDP rose by 2.1% on an annualised basis in Q4 2016, with consumer spending up 3.5% and inventories contributing 1.0pp to growth. Despite solid “soft” data in Q1 2017, we see GDP growth slowing to less than 1.0% as back‐to‐back monthly declines in real consumer outlays constrain activity. Business investment and trade flows are firming only gradually, while rising inflation is taking a greater bite out of real income and spending.

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