Lower GDP growth in US reflecting weaker productivity

Hong Kong

THE expected real economic growth in the US this year of about 2 per cent - lower than the previous three expansions - comes when productivity is easing, and there is uncertainty over the impact of innovation on this, said Federal Reserve Bank of Chicago president Charles Evans.

That comes alongside a slowdown in global economic growth, notably in emerging markets, and amid uncertainty about international prospects which may result in further declines in energy prices or greater appreciation of the dollar.