US Economic Update, April 2019
Q1 GDP – headline growth overstates strength, but still a good result.
- US GDP growth accelerated in Q1 2019 to a strong 3.2% q/q (annualised).
- However, this was due to a boost from net trade and inventories, while domestic final demand actually weakened.
- We still expect growth to slow over 2019 but with Q1 GDP stronger, and financial conditions recovering more quickly, than expected we have revised up our 2019 GDP forecast to 2.5% (from 2.1%).
- We still expect the Fed to remain on hold this year, as the stronger activity data is offset by a weakening in inflation.
For further details please see the US Economic Update: April 2019.
About the Author
NAB’s Group Economics consists of a leading team of economists who provide accurate, timely and relevant updates on domestic, international and industrial economic trends.
Headed up by the Group Chief Economist, Alan Oster, the team is comprised of three distinct departments:
- Australian economics and commodities
- International economics
- Industry economics
The team publish a wealth of content including reports, surveys, forecasts and indexes.
