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United States

Report | Economic insight for August 2, 2017

Summary

​Without any major policy changes, the economy continued to grow at roughly its trend rate. That makes sense—if nothing fundamental changed about the way the economy operates, then we shouldn't expect different results.

The economy grew by 2.6 percent in the second quarter with broad support from consumer spending, corporate investment, and trade. Growth during the first half of 2017 registered 1.9 percent annualized and year-over-year growth was 2.1 percent annualized, both of which were just a shade under the 2.1 percent average from the last 8 years.

For commercial real estate, economic growth continues to present a supportive environment. Growth remains strong enough to support fundamentals and interest from investors without creating imbalances that have the potential to end economic and real estate expansion.

Meanwhile, the Fed left interest rates unchanged but signaled that balance sheet normalization should begin "relatively soon" which likely means this autumn. ​

Finally, it appears as if widespread healthcare reform finally died and Congress is moving on (at least to an extent) to tax reform.

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