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United States: 2007 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2007: Issue 264
Language:
English
Publication Date:
01 Aug 2007
DOI:
https://doi.org/10.5089/9781451839685.002
ISBN:
9781451839685
ISSN:
1934-7685
Pages:
66
Keywords:
ISCR; CR; Core CPI inflation; subprime mortgage; report; core CPI; financial market condition; subprime mortgage market; inflation risk; housing downturn; Inflation; Mortgages; Housing prices; Loans; Budget planning and preparation; Global
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This 2007 Article IV Consultation highlights that following an extended boom led by strong domestic demand, the slowdown in the United States has largely reflected a drag from residential investment as the housing market has weakened substantially. Unexpected weakness in business investment and net exports, as well as an inventory correction, amplified the downturn in early 2007, but growth is expected to recover in the remainder of the year. The most likely scenario is a soft landing of the U.S. economy, with growth picking up during 2007.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund