US GDP comes in above expectations

David Morrison Trade Nation

Advance GDP +2.3% - well above forecast

Thus was the initial look at first quarter GDP and so arguably the most important, unless subsequent revisions prove significant.

Analysts had been busy revising down their forecast for the number. Nevertheless, today’s release will be a relief as it suggests that the US economy is not yet ready to roll over. Analysts have been growing concerned that the US was heading into a period of stagflation where economic growth is slowing while inflation continues to push higher. So today’s number will bring some relief, although the resulting rally in bond yields (if continued) may temper gains in equities.

Author

David Morrison

Trade Nation

Senior Market Analyst at Trade Nation since August 2019. David's role is to build value and growth through customer acquisition and retention via market commentaries, blogs and vlogs.

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