Economic Insights – August 2016

We expect that the final read on second quarter 2016 GDP will show growth of 2.2 percent, up from the 1.1 percent reading for the first quarter.  That’s in-line with our general view of slow-but-steady growth in 2016. 

What are the indicators saying about the outlook?

Let’s start with retail sales.  The consumer finished out the second quarter strong. Retail sales grew 0.6 percent in June, beating the most optimistic forecast by any economics group.  Inflation is starting to build, consumer spending is accelerating, and wages ar.....