The Conference Board Economics Watch® United States View—August 2018

Document Highlights

The US economy grew by 3.1 percent in the first half of 2018, including 4.1 percent in the second quarter, and is set to pick up to 3.3 percent in the second half of the year. A rise in federal government spending growth will add strength to an economy already fuelled by strong business and consumer confidence, as well as the ongoing impact of last year’s tax bill. Fiscal policy, though, will be less supportive of growth in 2019. Higher interest rates and a slowing global economy will also provide headwinds that will drag growth back below 2.5 percent by the end of 2019.