US Economics

US Data Response

26 October, 2018

GDP (Q3 1st Estimate)

At 3.5% annualised, GDP growth remained unusually strong in the third quarter, thanks partly to this year’s fiscal stimulus, but there are signs that higher interest rates are beginning to have a bigger restraining effect. Once the boost from fiscal stimulus fades next year, we expect economic growth to slow below its potential rate, forcing the Fed to the side-lines by mid-2019.

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