May 2013 | Economic Outlooks
- GDP — 1.75% growth in ’13, a bit softer than last year
- Unemployment — Hovering around 7.5% through year-end
- Interest rates — Little or no increase in short-term rates in ’13
- Inflation — Slightly higher this year, 2%
- Business spending — About a 4% gain in ’13, half of ’12’s pace
- Energy — Oil trading at $90-$95/barrel through Memorial Day
- Housing sales — Existing homes up 7.5% in ’13, new ones more than 35%
- Retail sales — About 4% growth in ’13; consumer spending slowdown
- Trade deficit — Widening by 2% in ’13, after a slight dip in ’12
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