“Goldilocks outcome”; US June quarter GDP growth beats estimates

25 July 2024

 

Summary: US GDP up 0.7% (2.8% annualised) in June quarter, above expectations; up 3.1% over year; Westpac: data points to goldilocks outcome; US Treasury yields fall; rate-cut expectations firm; Citigroup: caution against extrapolating Q2 strength to coming quarters, expects weakening labour market: GDP price deflator rate accelerates from 2.4% to 2.6%. US GDP growth slowed in the second quarter of 2019 before stabilising at about 0.5% per quarter.  At the...

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