The US Q1 GDP numbers released yesterday were, bluntly put, a horror show. They were not, however, wholly unexpected by yours truly — I had expected a slightly better but still dismal outturn compared with Q408’s -6.3% q-o-q annualised number. And that’s basically what we got: a -6.1% reading.
Have a look at the underlying numbers. [Read more...]
The revised preliminary US GDP figure for Q2, released today, was something of a stunner: 3.3% annualised growth, compared with the initial 1.9% estimate. And when put alongside the eurozone’s dismal 0.2% contraction over the same period, at first glance, a transatlantic reversal of fortune appears to be in play.
But not all is as it [Read more...]
Subscribe to our free daily or weekly email newsletters or get our latest posts on your prefered RSS reader.
