IMF Staff Country Reports

United States : Staff Report for the 2015 Article IV Consultation

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

July 7, 2015

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2015 Article IV Consultation highlights that the U.S. economy’s momentum in the first quarter of 2015 was sapped by unfavorable weather, a sharp contraction in oil sector investment, and the West Coast port strike. But the underpinnings for a continued expansion remain in place. A solid labor market, accommodative financial conditions, and cheaper oil should support a more dynamic path for the remainder of the year. Despite this, the weaker outturn in the first few months of 2015 will unavoidably pull down 2015 growth. Despite important policy uncertainties, the near-term fiscal outlook has improved, and the federal government deficit is likely to move modestly lower in the current fiscal year.

Series:

Country Report No. 15/168

Subject:

Article IV consultation reports Balance of payments statistics Budgets Debt sustainability analysis Economic growth Economic indicators Fiscal policy Fiscal reforms Fiscal risk Housing Monetary policy Press releases Staff Reports United States