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Federal Reserve Bank of Dallas: Modest to Moderate Growth Expected for Rest of Year
Thursday, June 27, 2013 9:25 AM

According to the Federal Reserve Bank of Dallas, Financial market indicators suggest that a pickup from modest to moderate growth is possible over the remainder of the year despite federal budget cuts and a continued weak growth outlook overseas. Consistent with the elevated but falling unemployment rate, inflation over the coming year should run between recent lows and 2 percent, the agency reports.

Economic indicators released so far for second quarter 2013 have generally been weaker than those for the previous quarter. The Blue Chip survey of forecasters predicts 1.8 percent real gross domestic product (GDP) growth in the second quarter, down from an annualized 2.4 percent in the first. This would put growth in the first half of 2013 at an annualized 2.1 percent, near the 2010–12 average of 2 percent.

The manufacturing sector continued to weaken from the relative strength it showed last winter, the Federal Reserve Bank of Dallas reports. Financial market indicators suggest that acceleration above modest growth could be on the horizon. To read the June 25 report, please click here.