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Analysts at Danske Bank points out that the first numbers for Q2 GDP have started to roll in and in the US, the data is set to show strong economic growth of 4-5% (q/q annualised) based on strong contributions from net exports and inventories.

Key Quotes

“However, investments and consumption should also show a decent gain. The inventory number will give an indication of how much companies have built inventories on certain goods before they would be subject to tariffs.”

“Growth should fall back to around 2-2 ½% as the effect of net exports and inventories falls back.”