The US Bureau of Economic Analysis published the GDP data for the second quarter of 2016, and the real GDP growth turned out to be 1.23% (year-on-year), slowing down from 1.57% in the previous quarter. The US economy has been significantly slowing down in 2016 as we predicted last year, when it was growing more than 2%.
- In 2016 US economy will slowdown: the Fed’s rate hikes, the strong dollar, energy prices and high wages (30 Dec 2015)
However, the published data this time suggests more detailed interpretation is necessary to predict the upcoming future of the US economy.
Continue reading The dollar to fall as the GDP growth in 2Q radically weakens, secular stagnation looms