RHB | United States | Improving but Uneasy?

Economic Research	11 June 2015
UNITED STATES
Economic Highlights
Improving but Uneasy? The latest data continue to substantiate a 2q15 rebound in economic growth from the 1q15 pothole, but the extent of the snapback seems generally less vigorous. Our aggregation exercise thus far implies that the incoming source data is likely to be tracking around 2.5% real GDP growth in 2q15, down from our prior forecast of roughly 3% annual rate. Alternatively, the timelier guidance from a broader set of survey indicators--essentially taking into account business and consumer survey releases through May--has also moderated on balance, generally consistent with a 2q15 GDP growth reading of 2.3%, according to our model (the estimated range from our survey-based regression model is currently between 1.8% and 2.9%). Economist:  Thomas Lam  | +65 6533 0389
To access our recent reports please click on the links below: 11 May 2015: Some Elusive Details on the Labor Market… 06 May 2015: Early Stab at 2q15 Growth… 30 April 2015: Dancing Gingerly… 06 April 2015:Hiccup, Pothole or Quicksand? 01 April 2015: A Sectoral Lean through 2025 19 March 2015: Not Impatient but More Foggy