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Weekly Economic Perspectives

US Real GDP Growth Below Expectations

Q1 real GDP growth – at 1.6% saar (seasonally adjusted annualized) – meaningfully undershot consensus expectations of 2.5%. The outcome was very close to our own estimate of 1.8%. We believe the big fiscal stimulus-driven boost to US growth is starting to fade.

Chief Economist
Investment Strategist

Lots of Interesting Details in Q1 US GDP Data

Spotlight on Next Week

  • Robust US employment gains could come with downward revisions. 
  • UK’s final PMIs to confirm strong momentum in private sector. 
  • Incremental GDP growth in the eurozone. 
  • Retail sales likely higher in Japan but flat in Australia.


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