
Macro - Weekly Briefings - US
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Macro - Weekly Briefings - US
Despite the eye-catching 1.4% contraction in Q1 real GDP, the pulse for the domestic economy still beats strongly. Notably, consumer spending in March outpaced the 40-year high in inflation, which provides a solid handoff to consumer spending growth in Q2 which we see running close to 3% as the consumer rotates more towards services spending.
Despite the eye-catching 1.4% contraction in Q1 real GDP, the pulse for the domestic economy still beats strongly. Notably, consumer spending in March outpaced the 40-year high in inflation, which provides a solid handoff to consumer spending growth in Q2 which we see running close to 3% as the consumer rotates more towards services spending.
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