This second 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 second quarter of 2016.

The QED is organized into 10 sections:

• JOB GROWTH AND OPENINGS: Job Growth Slowed, then Rebounded
• EMPLOYMENT: Trend Towards Full Employment Continues, But Some Slack Remains
• GDP GROWTH: Slow Growth Despite Gains in Consumer Spending
• PRIVATE INVESTMENT: Business Investment Declined Sharply
• PERSONAL INCOME AND SPENDING: Consumer Spending Picked Up
• HOUSING: Mixed Signals
• GLOBAL ECONOMY: Uncertainties Continue to Put a Drag on Global Growth
• FINANCIAL MARKETS: Equity Markets Remain Volatile; Credit Market Bearish
• MONETARY POLICY: The Federal Reserve Continues to Hold Off on Additional Interest Rate Increases
• FISCAL POLICY: State and Local Government Spending Declined; Federal Spending Edged Lower