Economy
June 24, 2014
Dr. Chis Kuehl: Growth for Balance of Year to be Robust
Written by Sandy Williams
Dr. Chris Kuehl, one of our Steel Summit keynote speakers and Managing Director of Armada Corporate Intelligence, provides a monthly overview of economic and global risks facing the U.S. economy and the steel industry. Armada’s June summary is as follows:
1. GDP growth expectation has dropped to 2.1% for the full year, but… The IMF, Fed, World Bank, and several prominent investment houses now have US 2014 economic growth pegged at 2.1%. That’s only because the first quarter is coming in weaker with each revision. It looks like the annual economy will start in the hole by about -1.6%. Therefore, the last three quarters of the year will have to grow at more than 3.5% to get our average back up to 2.1%. So, don’t let the headline figure scare you, growth for the rest of the year will still be robust (barring any major headwinds we discuss later).
