The Conference Board Economics Watch<sup>®</sup> United States View

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The Conference Board Economics Watch^® United States View

Authors:
Kenneth Goldstein
Eliza Winger
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.