US Economic Update – 30 April 2015

U.S. GDP growth slowed to a crawl in the March quarter. Details were weak, with the major support for growth coming from inventories. We expect the slowdown will be temporary and above trend growth to resume.

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US Economic Update 2015Q1 GDP – 30 April 2015

  • U.S. GDP growth slowed to a crawl in the March quarter.
  • Details were weak, with the major support for growth coming from inventories.
  • We expect the slowdown will be temporary and above trend growth to resume. However, reflecting the slower than expected March quarter outcome we have lowered our 2015 GDP growth forecast to 2.5% (from 2.7%).

For further details please see the attached document.