United States: 2016 Article IV Consultation-Press Release; and Staff Report

July 12, 2016

Preview Citation

Format: Chicago

United States: 2016 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2016) accessed December 23, 2024

Summary

This 2016 Article IV Consultation highlights that the United States is now in its seventh consecutive year of expansion. The unemployment rate has fallen to 4.9 percent, and household net worth is close to precrisis peaks. Nonetheless, the economy has gone through a temporary growth dip in the last two quarters. Lower oil prices led to a further contraction in energy sector investment, and a strong dollar and weak global demand have weighed on net exports. With activity indicators for the second quarter of 2016 rebounding, the economy is expected to grow at 2.2 percent and 2.5 percent in 2016 and 2017, which is above potential.

Subject: Income, Inflation, Labor, Labor markets, National accounts, Prices, Wages

Keywords: Article IV discussion, CR, Global, Income, Inflation, ISCR, Labor markets, Liability positions vis-à-vis nonresident, Money market rate, Potential GDP, Rate, Spending momentum, Staff appraisal, Wages

Publication Details

Pages:

85
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/226
Stock No:

1USAEA2016001
ISBN:

9781498358958
ISSN:

1934-7685

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