US GDP growth slowed in Q1 but details stronger – RBC
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
Analysts at RBC Economics offer their afterthoughts on the preliminary estimate of the US Gross Domestic Product (GDP) data released for the first quarter on Thursday.
“US GDP growth slowed to 1.1% (annualized) in Q1 2023, following a larger 2.6% increase in Q4 2022. Details reflected strong consumer fundamentals, with offset from weaker inventory investment.
“Consumer spending rose 3.7% in Q1 supported by a surge in vehicle sales (+45.3%). Service spending also maintained momentum, rising by 2.3%.”
“Business fixed investment ticked slightly higher in Q1 (+0.7%), and solid domestic demand led to stronger imports though exports also rose.”
“The strong fundamentals in Q1 GDP should cement a 25 bp hike from the Federal Reserve next week. However, there are signs that growth momentum began to taper off later in Q1.”
“Higher rates should continue to slow household demand for goods and services in the quarters ahead, moderating growth in prices along the way.“
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
