Shifting balance of risks sees February 2025 firm for first rate cut – but easing still likely gradual.
Insight
November 17, 2020
US Economic Update – November 2020
Q3 bounce; but COVID-19 risks remain
Key highlights:
- As expected, there was a large bounce in GDP in Q3.
- However, even after this, GDP remained well below its pre-COVID-19 level.
- With fiscal support unwinding and COVID-19 surging, growth will come under pressure in coming quarters.
- The possibility that COVID-19 related restrictions get ramped up presents downside risk.
Find out more in NAB’s US Economic Update – November 2020
