US Economics

US Data Response

15 August, 2017

Retail Sales (Jul.)

The strong gain in retail sales in July, together with the upward revisions to May and June data support our forecast that third-quarter GDP growth will be between 2.5% and 3.0% annualised. With jobs growth showing few signs of slowing, we expect consumption growth to be a similar 2.5% to 3.0% annualised over the rest of the year.

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