Consumers, inventories boost US Sep quarter GDP; details softer

26 October 2023

 

Summary: US GDP up 1.2% (4.9% annualised) in September quarter, above expectations; NAB: underpinned by strong consumer spending, inventory growth; US Treasury yields fall noticeably; rate-cut expectations firm; GDP price deflator rate slows from 3.5% to 3.2%. US GDP growth slowed in the second quarter of 2019 before stabilising at about 0.5% per quarter.  At the same time, US bond yields suggested future growth rates would be below trend. The...

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