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US: Business sector GDP expands 5% in Q3
Thu, Oct 29 2009, 15:35 GMT
by Economic and Strategy Team
The U.S. economy is finally beginning to grow again. Real GDP expanded 3.5% in Q3, the largest increase since the onset of the recession and the first positive quarter in just over a year. For our part, we were particularly encouraged by the 5% increase in business sector nominal GDP (a proxy for top-line growth). This is a most welcome development that should put an end to the aggressive cost-cutting triggered by the credit crisis that led to a plunge in investment spending and massive headcount reductions. There is already scope for optimism on that front. Real business investment rose 1.1% in Q3, the first increase in almost two years. As today’s Hot Chart shows, the start of a new investment cycle is closely followed by stabilization in labour markets. We see GDP in excess of 3% again in Q4 with an even stronger performance from business investment. If we are right, job creation cannot be far behind.
Published on Thu, Oct 29 2009, 15:38 GMT
National Bank of Canada
| 1100 University, 11th floor Montreal (Québec) H3B 2G7
http://www.nbc.ca/ | info@nbc.ca
Legal disclaimer and risk disclosure
This presentation may contain certain forward-looking statements about the 2009 Economic and Financial Outlook. Such statements are subject to risk and uncertainties. Actual results may differ materially due to a variety of factors, including legislative or regulatory developments, competition, technological change and economic conditions in Canada, North America or internationally. These and other factors should be considered carefully and readers should not rely unduly on National Bank of Canada’s forward-looking statements. This presentation may not be reproduced in whole or in part, or further distributed or published or referred to in any manner whatsoever, nor may the information, opinions or conclusions contained in it be referred to without in each case the prior express consent of National Bank.Related reports
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