EFTA00355936.pdf

From: "Standard & Poor's Ratings Services" <info@ratingsinfo.standardandpoors.com> To: "MIIMI " < Subject: From Beth Ann Bovino: S&P's U.S. Economic Forecast: The Economy Spreads Some Holiday Cheer Date: Mon, 22 Dec 2014 19:04:03 +0000 Click here to view on a mobile device or as a webpage. 2Economic Research U.S. Economic Forecast: The Economy Spreads Some Holiday Cheer December 22, 2014 RBovino_EmailLetter Dear colleague, With U.S. economic indicators bringing cheer to the markets, there may be no need for egg nog to get into the holiday spirit. Recent data point to the economy steadily recovering . Standard and Poor's now expects real GDP growth to grow by 2.3% this year and by 3.1% in 2015, as consumer spending strengthens into next year and residential construction moves back into double-digit gains. The drop in oil prices, if it continues as we expect, will help support economic growth into 2015. The Federal Reserve is expected to raise its policy rate in June of next year. To access the full report and view additional economic research, please visit Beth Ann Bovino — www.SPRatings.com/Economichtsights. U.S. Chief Economist Standard & Poor's Ratings Services If you have any questions, please contact me or my colleague Satyam Panday, U.S. Economist, at 212-438-6099. Sincerely, Beth Ann Bovino U.S. Chief Economist Standard & Poor's Ratings Services 212-438-1652 Visit SPRatings.com, a free, interactive, and informative portal to access highlights from our credit research offerings. Consider this your portal to perspective: www.spratings.com. Regulatory Affairs and Disclaimers I Privacy and Cookie Notice I Terms of Use Copyright 0 2014 by Standard & Poor's Financial Services LIC. 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