Researchers at UOB Group gave their view on the recently released preliminary figures for Q2 GDP. Key Quotes “US GDP growth slowed to 2.1% q/q SAAR in 2Q (from 3.1% in 1Q) but beat market expectations) thanks to robust consumer and government spending. The main drags on GDP were likely related to the impact from trade uncertainties which manifested as the slump in business investments and exports, and a marked private inventories drawdown. There was also a continued residential investment weakness for the fifth straight quarter”. “Despite the slower beat in 2Q GDP, we revised our 2019 full-year growth higher to 2.5% (from 2.3% previously) as we had underestimated the resilience of the US consumer even though the flagged trade-related risks have been partly manifested in 2Q. We continue to see the prospect of further US GDP growth slowdown into 2020, potentially hitting a technical recession that year although full-year growth is expected to remain positive at 1.3% in 2020. It is important to note that the technical recession projected in 2020 will likely be mild and comes off the heels of a record long business up cycle”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: GBP rout extends, Dollar advances; eyes on Brexit news, German data FX Street 4 years Researchers at UOB Group gave their view on the recently released preliminary figures for Q2 GDP. Key Quotes "US GDP growth slowed to 2.1% q/q SAAR in 2Q (from 3.1% in 1Q) but beat market expectations) thanks to robust consumer and government spending. The main drags on GDP were likely related to the impact from trade uncertainties which manifested as the slump in business investments and exports, and a marked private inventories drawdown. There was also a continued residential investment weakness for the fifth straight quarter". "Despite the slower beat in 2Q GDP, we revised our 2019 full-year growth higher… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
