BofA: The U.S. Economy’s ‘Moment of Truth’ Has Almost Arrived
Robust payroll growth and relatively steady average hours worked have propelled total hours worked higher at a solid clip in recent years. Conversely, productivity has increased at an annualized rate of just 0.5 percent over the past two years.
Photographer: Victor J. Blue /BloombergOn Thursday, some of the biggest lingering questions about the U.S. economy may be answered, according to Bank of America Merrill Lynch Deputy Head of U.S. Economics Michelle Meyer and U.S. Economist Alexander Lin.
The Bureau of Economic Analysis (BEA) is slated to release the advance estimate for second-quarter growth that morning, for which the consensus estimate is 2.7 percent, along with revisions to gross domestic product (GDP) growth for previous years and a new metric that may offer a more accurate reflection of the nation's economic performance.