Business investment has been soft this year, partly reflecting the plunge in oil drilling. And net exports are being held down by weak economic growth in several of our major trading partners and the appreciation of the dollar. Looking forward, prospects are favorable for further improvement in the U.S. labor market and the economy more broadly.
Low oil prices and ongoing employment gains should continue to bolster consumer spending, financial conditions generally remain supportive of growth, and the highly accommodative monetary policies abroad should work to strengthen BIS central bankers’ speeches  1  global growth.