Economic Growth Forecasts for the Second Half of 2013

Economic growth will average just half a % annualized over the second half of this year. We expect that slower economic growth will eventually translate into weaker job gains, with pay roll employment growing by less than a hundred thousand per month in 20 23. The unemployed rate currently three point six and could still edge down to three point five % By the fourth quarter due to very weak labor supply and the lagged impact of excess labor demand,. However, there is a growing risk that unemployment could begin to rise more quickly. On inflation, we believe that a coal front is now moving through. According to tripole, the national average price for a gallon of gasolene fell to four dollars and 37 cents