The Capital Spectator will be taking a long weekend to celebrate the 240-year-old USexit holiday, aka Independence Day for these United States. The usual routine resumes on Tuesday, July 5—directly after the July 4 fireworks have subsided and the ringing in your editor’s ears has receded to a low, dull hum.
Happy Birthday, America!
Next month’s “advance” GDP report for the US in the second quarter is widely projected to show that economic activity will rebound from Q1’s sluggish 0.8% gain (which is expected to be revised up to 1.0% in today’s revision, according to Econoday.com’s consensus forecast). But a higher level of macro uncertainty is clouding the outlook after last week’s UK vote to leave the European Union. The US may be relatively insulated from the economic effects, but not entirely, according to a new Goldman Sachs forecast. The bank trimmed its outlook for US GDP growth in this year’s second half to 2% from 2.25% previously, Reuters reports.
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