A marked gap has opened up between the incoming expenditure-based data, which point to a healthy rebound in third-quarter GDP growth and the production-based business survey evidence, which has weakened over the past few months. We still think there are good reasons to believe GDP growth will accelerate to 2.5% annualised in the third quarter. Net exports are on track to make a modest contribution to third-quarter growth and the recovery in drilling activity points to a 60% annualised gain in mining structures investment. Nonetheless, the uncertainty surrounding the extent of the pick-up in GDP growth won’t fully dissipate until later this fall.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services