GDP (QoQ) (US)
Event Date: Wednesday, August 30, 2023
Event Time: 12:30 CET
Updated Monday, August 28, 2023
The US economy has been having trouble, as Oil and consumer prices keep surging, so in Q1 of 2022 we saw a contraction of 1.5%. The Q1 GDP came at -1.6% while Q2 reading came at -0.9% which was revised higher to -1.6%. The Q4 number was revised lower to 2.6%, after coming at 2.9% initially, while Q1 of 2023 was revised higher to 1.4% from 1.3%. The first reading for the Q2 GDP came at 2.4% and the prelim reading is not expected to show any changes. 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.