June 1, 2021

US Economic Update – May 2021

Q2 growth still looking strong; April inflation surprise.

Key highlights:

  • April activity data have been mixed, but still point to very strong growth in Q2 GDP.
  • There was a major upside surprise to inflation in April. While this largely reflects some temporary factors that should wane over coming months, how long current elevated price pressures persist is a major uncertainty.
  • We still expect tapering of asset purchases to begin in Q1 2022, with the Fed signalling this towards the end of this year.
  • We also expect the fed funds rate to remain unchanged through to end 2023, but note that this call is line ball, with a risk of rate hikes in 2023.

 Find out more in NAB’s US Economic update May 2021

NAB Consumer Sentiment Survey Q1 2025NAB Consumer Sentiment Survey Q1 2025

NAB Consumer Sentiment Survey Q1 2025

17 April 2025

The NAB Consumer Stress Index rose in the March quarter. High living costs continue to drive spending behaviours, with shoppers looking for ways to save money.

NAB Consumer Sentiment Survey Q1 2025NAB Consumer Sentiment Survey Q1 2025

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