This first edition of the Quarterly Economic Digest (QED), a new publication by the Democratic staff of the Joint Economic Committee, is designed to serve as a resource for Members of Congress and their staff who are interested in following national economic trends. This issue covers the first quarter of 2016.

The QED is organized into 10 sections:

• JOB GROWTH AND OPENINGS: 75 months of Private-Sector Job Growth—Record Streak Continues
• EMPLOYMENT: Trend Towards Full Employment Continues, But Considerable Slack Remains
• GDP GROWTH: Pace Slowed Due to Weak Business Investment and Net Exports
• PRIVATE INVESTMENT: Business Investment Declined Sharply in the First Quarter 
• PERSONAL INCOME AND SPENDING: Consumer Spending Slowed Despite Solid Gains in Real Income 
• HOUSING: Data Signal Housing Market Continues to Improve
• GLOBAL ECONOMY: Uncertainties Continue to Put a Drag on Global Growth
• FINANCIAL MARKETS: Equity Market Remains Volatile; Credit Market Bearish
• MONETARY POLICY: The Federal Reserve Delays Additional Interest Rate Increases
• FISCAL POLICY: Federal Spending Declined; State and Local Government Spending Increased