The Conference Board Economics Watch® United States View
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Publication Date:
July 2016
We lowered our short-term GDP forecast again, in part the result of unknown consequences resulting from the Brexit referendum. Business investment is down, and no significant recovery is expected in 2016. Consumption is holding up as wages keep growing, but it is insufficient to offset negative investment trends and weakening exports. Escalating uncertainty regarding growth will likely keep the Fed on pause until December.