November 4, 2022

US Economic Update – November 2022

Q3 GDP – economy growing again (for now).

Key highlights:

  • The economy resumed growth in Q3, although this was in large part due to an unsustainably large net export contribution.
  • Growth in domestic final demand was weak in Q3 and October business surveys point to a weakening economy.
  • We have made small upwards revisions to our GDP growth forecasts. We now expect growth of 1.9% (was 1.8%) in 2022, 0.1% in 2023 (was 0.0%) and 1.1% in 2024 (unchanged). We still expect the US to go into a mild recession in 2023.
  • Following the Fed’s meeting this week, we now expect a higher peak fed funds rate (5.00%, up from 4.50% previously) to be reached in Q1 2023.

Find out more in NAB’s US Update (November 2022)

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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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