International Economic and Market Overview August 2013
The US economy continues to grow, increasing the likelihood that the Federal Reserve will begin scaling back its unprecedented level of monetary stimulus by tapering its bond purchases. According to the Commerce Department, 2nd quarter GDP rose at a 2.5% annualized rate, up from an initial estimate of 1.7%. This surprising, albeit positive, development should help to reassure investors that the world’s largest economy is still growing at a relatively strong rate despite recent federal tax increases and budget cuts. 08_2013_CFAL_International_Economic_and_Market_Overview-1 Click here for full International Market Overview

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