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Following the US GDP data  beat, analysts at Westpac remain of the view that US GDP growth will remain strong through to mid-2019.

Key Quotes:

“The latest GDP report for the US showed their economy in strong form, with a 3.5% annualised gain in the three months to September following the June quarter’s 4.2% rise. For the year to date, growth is currently running at a 3.3% annualised pace, close to twice potential.”

“Amid considerable global uncertainty and in the absence of an inflation threat, these outcomes should be sufficient to see the FOMC go on hold indefinitely after raising the federal funds rate to 2.875% (mid-point of range) at their June 2019 meeting.”