Economic
Research
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30 April
2015
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UNITED STATES
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Economic
Highlights
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The
April 28-29 FOMC (Federal Open Market Committee) meeting ended uneventfully,
arguably, with neither a dovish nor hawkish aftertaste. While the tone in the
first paragraph of the April statement, which captured the bulk of the
updates relative to the prior FOMC statement, was generally more downbeat, it
was tempered some by the judgment that the soggy 1q15 “in part” reflects
“transitory factors”. Broadly, the updated review of economic conditions in
the post-meeting statement summarizes the gist of the earlier sub-trend print
on 1q15 advance GDP (while the actual headline GDP print of 0.2% was weaker
than our forecast of 0.8%, the inventory and net exports components, which
were distorted by port strikes, etc, are still based on incomplete source
data through Feb; hence, the real final sales to domestic purchasers reading
of 0.7%, still slightly below our estimate, might be a cleaner read).
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To
access our recent reports please click on the links below:
06 April 2015:Hiccup,
Pothole or Quicksand?
01 April 2015: A
Sectoral Lean through 2025
19 March 2015: Not
Impatient but More Foggy
10 March 2015: The
ECB’s Growth Forecast: Upside or Downside Risk?
09 March 2015: Dig
Beyond the Job Market Headlines…
25 February 2015: Historical
Tightening Cycles & Yellen
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Thursday, April 30, 2015
RHB | United States | Dancing Gingerly…
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