U.S. Outlook: Veering away from the brink

Posted By Scott Anderson In Economic Outlook | No Comments

The impact of the government shutdown dominates this week’s U.S. Outlook Report. What could it mean for the markets and your finances?

Below is a brief summary followed by a link to the full report, delivered on Oct. 18, 2013.

Key observations:
  • We estimate that the government shutdown has cut a little over 0.2 percentage points off GDP growth in the fourth quarter.
  • Preliminary economic indications suggest a negative economic impact on consumer, business, and government spending.
  • The temporary nature of the spending and debt-ceiling solution will only extend the period of fiscal uncertainty clouding the economic recovery.
  • The silver-lining: Creation of a bicameral budget conference committee to work on a longer-term budget solution by Dec. 13.
  • Fed tapering appears unlikely in near term. This means somewhat lower rates next year for mortgages and consumer loans.

For my complete analysis, check out this week’s US Outlook Report [1].

Article printed from Bank of the West: https://changematters.bankofthewest.com

URL to article: https://changematters.bankofthewest.com/2013/10/25/veering-away-from-brink/

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[1] this week’s US Outlook Report: https://cdn.shoutlet.com/file/10476/939049.pdf

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