The widely talked about 0.5% m/m gain in June’s GDP doesn’t convince us that the economy is on the path to recovery. Close examination of the data reveals that nearly half of this growth was due to unusual volatility in the oil & gas sector. Meanwhile, growth in other goods-producing sectors is still absent.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.