The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 
Share
  • LINKEDIN
  • EMAIL
  • TWITTER
  • FACEBOOK
Share
Press Release
US Economy Continues Decent Growth Pace
26 July, 2019


Comment on Q2 GDP

US Economy Continues Decent Growth Pace

Bart van Ark, Chief Economist, The Conference Board

At 2.1 percent, the growth of US Real Gross Domestic Product during the second quarter of 2019 comes out better than expected. The weakness observed at the end of 2018 and early 2019, which was underlined by revised estimates for earlier quarters, has been wiped out especially by very strong consumption growth at 4.3 percent in Q2.

However, the strength of the economy is rather unbalanced. The growth rate of investment was negative across the board, except for technology investments. Combined with a decline in exports, largely due to weaknesses elsewhere in the global economy, this report suggests growth to retain its strength at just over 2 percent for the second half of 2019.

This report is unlikely to influence the FOMC decision making process next week which is likely to lead to a slight reduction in the Federal Fund rate, especially given the underperformance of investment and global uncertainties. But going forward, if the US economy maintains its growth rate above 2 percent, it could moderate the appetite for further cuts later in the year.

About The Conference Board

The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

For more information:

Carol Courter

The Conference Board

(212) 339-0232

courter@conference-board.org   

For further information contact:

Carol Courter
1 212 339 0232
carol.courter@conference-board.org

Joseph DiBlasi
781.308.7935
Joseph.DiBlasi@conference-board.org

ECONOMIC INDICATORS

Leading Economic Index for:

  • Australia 0.1%
  • Brazil 0.5%
  • China 1.3%
  • Euro Area 0.2%
  • France 0.4%
  • Germany 0.2%
  • Global 0.0%
  • India 1.6%
  • Japan 0.8%
  • Korea 0.6%
  • Mexico 0.7%
  • Spain 0.3%
  • U.K. 0.3%
  • U.S. 0.5%
  • International Labor Comparisons:
  • Visit ILC website
  • Productivity:
  • Visit Total Economy Database™ website
  • Global Economic Outlook:
  • Visit Global Economic Outlook website