GDP (QoQ) (US)
Event Date: Thursday, May 27, 2021
Event Time: 12:30 CET
Updated Thursday, May 27, 2021
The US economy went through a soft period during winter last year and, as a result, the GDP report for Q1 of 2018 showed a mere 2.0% growth, which was lower than the 2.2% estimate. But, we saw a decent expansion in Q2. The final reading for Q2 was revised higher to 4.2% from 4.1%. In Q3, the US economy grew by 3.5% on an annualized basis, as the first estimate showed. Q4 of 2018 was another soft period for the US economy as the global economy weakened considerably. The growth slowed but it beat expectations as the previous prelim reading came at 2.6% against 2.2% expected. But, Q4 of last year was revised lower to 2.2%. In Q1 of this year, expectations for the first reading showed that the US expanded by 3.1%. The final reading ticked higher to 3.2%, but the revision last month took the GDP for Q1 back to 3.1. The Q2 number came in weaker at 2.0% because the US economy weakened considerably in that quarter, but in Q3 it came higher than expectations of 1.6% and was revised higher still to 2.1%. Q4, also came at 2.1%. But the GDP contracted by 4.8% in Q1, as the US started to shut down the economy, which was revised even lower to -5%. But, the worst was yet to come, with the GDP declining by 31.9% in Q2. In Q3 the US economy surged after the reopening, posting a 33.1% increase. The first reading for Q4 showed a 4.2% expansion, which was revised higher to 4.1% in the last reading. Q1 of 2021 is expected at 6.4%, with the economy picking up pace further. Please follow us for live coverage of this event by experienced market analysts.
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About GDP (QoQ) (US)
Gross Domestic Product (GDP) measures the total value of a country’s industrial output over a given period. It consists of the aggregate domestic production of goods and services by individuals, businesses, and government. GDP data is available in dollar or index form. U.S. GDP (QoQ) is the comparison of growth from one fiscal quarter to the next, represented in a percentage format.GDP (QoQ) is a leading indicator of U.S. economic health. High levels of GDP growth are viewed as being positive for U.S. indices as well as the USD. Low levels of growth are negative to most asset classes and are common to recessionary cycles. The U.S. Federal Reserve (FED) places a great deal of emphasis on quarterly GDP. Robust growth is often a prelude to monetary tightening, while stagnate levels provide an environment conducive to Quantitative Easing (QE).Traders monitor GDP (QoQ) releases closely. Abnormal reports may cause rapid buying or selling of the U.S. indices or USD. Currency, equities, and commodities markets all exhibit enhanced degrees of volatility surrounding the GDP release.