
Industry - Country Industry Forecasts - United States
Description
Industry - Country Industry Forecasts - United States
US industrial growth has slowed in the face of high inflation, slowing export growth, declining inventories, and shifting consumer preferences towards services. Q2 GDP fell by -0.6%%, dragged by declining residential investment, declining construction, and reduced consumption of goods. Consumer spending has proven resilient, helping to increase personal consumption of services. This will act as a primary lever of support for the economy heading into H2 2022 as we anticipate an economic contraction in Q1 2023, due to persistent inflation and rising interest rates. Our GDP forecasts have materially reduced to 1.7% for 2022, and 1.0% in 2023.
US industrial growth has slowed in the face of high inflation, slowing export growth, declining inventories, and shifting consumer preferences towards services. Q2 GDP fell by -0.6%%, dragged by declining residential investment, declining construction, and reduced consumption of goods. Consumer spending has proven resilient, helping to increase personal consumption of services. This will act as a primary lever of support for the economy heading into H2 2022 as we anticipate an economic contraction in Q1 2023, due to persistent inflation and rising interest rates. Our GDP forecasts have materially reduced to 1.7% for 2022, and 1.0% in 2023.
Table of Contents
29 Pages
- Please Note: Due to the brevity and/or nature of the content posted, there is no table of contents available for this report.
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.