US Economic Update – GDP Q4 2015
U.S. GDP growth slowed in the December quarter to 0.2% qoq (0.7% annualised).
- U.S. GDP growth slowed in the December quarter to 0.2% qoq (0.7% annualised).
- Most components slowed or stayed weak. The main detractors from growth were inventories and net exports. US dollar appreciation and falling energy prices are weighing heavily on some sectors.
- Despite these headwinds, over the last year domestic final demand has held up, and the economy is expected to growth at a moderate pace. We expect GDP growth of 2.2% in 2016 (previously 2.3%) and 2.3% in 2017, although downside risks have increased.
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About the Author
Tony joined NAB early in 2011 from the Victorian Treasury where he worked for 12 years on a range of issues, including state budget strategy and forecasting state taxation revenues.
Before this, Tony was in the Commonwealth Treasury for a decade, where he undertook work on macroeconomic forecasting, microeconomic reform and debt management.
Tony grew up in Canberra and graduated (with first class honours) from the Australian National University. He also holds a Masters degree in Applied Finance from Macquarie University.
