US GDP jumps; consumption a key driver in March quarter

Summary:  US GDP up 1.6% in March quarter; personal consumption the key driver; recovery “well established”, double digit growth “not unrealistic expectation for Q2”; inventory change drags on result; supply disruptions may be a factor; GDP price deflator annual rate accelerates, nearly 2% per annum.   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...

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