Germany’s gross domestic product (GDP) contracted 0.2 percent for the quarter in the final three months of 2022, following an upwardly revised 0.5 percent expansion in the previous period. The market expectations of 0.0% q/q. The contraction in Europe’s largest economy was mainly led by a decline in household consumption, amid rising interest rates and stubbornly high inflation. By comparison the US economy increased at an annual rate of 2.9% in the fourth quarter, ahead of consensus 2.6%. On a … Continue reading “Germany’s Economy Unexpectantly Contracts in Q4”
US Economy a Long Way from Recession in Q4, GDP Grew 2.9%
The US economy increased at an annual rate of 2.9% in the fourth quarter, ahead of consensus 2.6%. The report followed a 3.2% increase in the third quarter. The report suggests the economy was resilient and held on in the fourth quarter in the face of rising interest rates, moderating consumer spending (and inflation), political uncertainty and falling sentiment. The GDP Price Deflator was up 3.5% (consensus 3.2%) following a 4.4% increase in the third quarter. The Q4 PCE Price … Continue reading “US Economy a Long Way from Recession in Q4, GDP Grew 2.9%”
Consumer Spending Helped US Economy Grow Stronger than Expected in Third Quarter
The US economy has recovered strongly in the third quarter, growing at an annualized 3.2% on quarter in Q3 2022, ahead of the second estimate and consensus 2.9%. Significantly higher than the advance estimate +2.6% and Q2 GDP of -0.6%. The report ended a two-quarter streak of negative GDP prints. The report suggests the economy was resilient held in the third quarter to rising interest rates and why the Fed continued to raise rates aggressively in the third quarter. The American … Continue reading “Consumer Spending Helped US Economy Grow Stronger than Expected in Third Quarter”
US Q3 GDP Grew 2.6% Ending a Two Quarter Streak of Negative GDP
The US economy increased at an annual rate of 2.6% in the third quarter, ahead of consensus 2.3%. The report ends a two-quarter streak of negative GDP prints. The report suggests the economy was resilient held in the third quarter to rising interest rates. Real final sales of domestic product, which excludes the change in private inventories, grew a sturdy 3.3%. The GDP Price Deflator stepped down to 4.1% (consensus 5.3%) from 9.0% in the second quarter. USA Advance Q3 … Continue reading “US Q3 GDP Grew 2.6% Ending a Two Quarter Streak of Negative GDP”
US Q2 GDP Shrank 0.9% Putting America in Recession Despite Biden Administration Denials
The US economy had the second contraction since early in the pandemic shrinking -0.9% vs +0.5% expected in the second quarter after a -1.6 percent decline in the first, confirming that a recession has already begun. A recession is defined as two consecutive negative quarters of growth. Bewilderingly the Biden Administration through the President himself and Treasury Secretary Yellen continue to deny the US is a recession and the definition is wrong. What these continual false truths has done is … Continue reading “US Q2 GDP Shrank 0.9% Putting America in Recession Despite Biden Administration Denials”
Dismal US Q1 GDP Shrank 1.4% vs +1.1% expected
The US economy had the first contraction since early in the pandemic shrining 1.4% in the first quarter after it was expected to grow 1.1%. The decline in U.S. gross domestic product was a sharp reversal from the 6.9% annual growth rate in the fourth quarter, the Commerce Department said Thursday. The drop in GDP was fueled by a widening trade deficit. Fading government stimulus spending related to the pandemic weighed on GDP. USA Advance Q1 2022 GDP highlights The … Continue reading “Dismal US Q1 GDP Shrank 1.4% vs +1.1% expected”
IMF Cuts 2022 Global Growth With US, China and EU all Downgraded
The International Monetary Fund on Tuesday downgraded its 2022 global growth forecast to 4.4% in its World Economic Outlook report. The IMF said it expects global gross domestic product to grow 0.5% less than previously estimated. The revision is largely due to lower growth in the world’s two largest economies: the U.S. and China. Rising Covid-19 cases, supply chain disruptions and higher inflation have hampered the economic recovery. “The global economy enters 2022 in a weaker position than previously expected,” … Continue reading “IMF Cuts 2022 Global Growth With US, China and EU all Downgraded”
Australian Economy Shrank Less Than Expected in Q3
Australia’s GDP shrank -1.9% q/q in Q3, less than market expectations of a 2.7% decline and after 0.7% growth in Q2. This was the first contraction in the economy since Q2 2020 with the damage done from lengthy lockdowns across New South Wales, Victoria, and the Australia Capital Territory due to Covid-19. Australian Gross Domestic Product (GDP) fell 1.9 per cent in seasonally adjusted chain volume terms in the September quarter 2021 and was up 3.9 per cent through the … Continue reading “Australian Economy Shrank Less Than Expected in Q3”
Australia Economic Growth Stronger Than Expected, Record High +9.6% y/y
Australia saw stronger than expected GDP for the second quarter at +0.7% q/q higher than expected 0.5% q/q but down from prior 1.8%. Year on year record high +9.6% growth higher than expected 9.2% y/y and prior 1.1% with the base effect.
Robust US Q1 GDP 6.4 percent Growth Catalyzed By Stimulus Payments and COVID Vaccines
The US economy grew by a robust annualized 6.4 percent in the first quarter of 2021, following a 4.3 percent expansion in the previous three-month period and slightly ahead market expectations of 6.1 percent, the advance estimate showed. The bounce back comes with stimulus payments and reopening activity catalyzed by the COVID vaccines.