Economic Forecast Detail — United States, July 2026

RBC Economics’ monthly detailed U.S. macroeconomic and financial forecast table.

Royal Bank of CanadaOpen source document ↗

Published2026-07-13
Extracted figures9
Source classInstitution forecast
Update cadenceMonthly
Available formatPDF table

Reported figures

Each with its source sentence
MetricPeriodReportedForecast
Real GDP growth2026 Q4“Real gross domestic product | 2026 Q4 | 2.2” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-132.2%
Personal consumption2026 Q4“Consumer Expenditures | 2026 Q4 | 1.5” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-131.5%
Business investment2026 Q4“Non-Residential Investment | 2026 Q4 | 4.0” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-134.0%
Unemployment rate2026 Q4“Unemployment rate (%) | 2026 Q4 | 4.3” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-134.3%
Federal funds rate2026 Q4“Fed Funds Rate (%, eop, top of range) | 2026 Q4 | 3.75” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-133.75%
10-year Treasury yield2026 Q4“10-year | 2026 Q4 | 4.35” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-134.35%
Headline CPI inflation2026 Q4“Headline CPI (y/y%) | 2026 Q4 | 2.8” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-132.8%
Core CPI inflation2026 Q4“CPI ex-food & energy (y/y%) | 2026 Q4 | 2.8” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-132.8%
Housing starts2026 Q4“Housing starts (000s) | 2026 Q4 | 1458.9” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-131.459M