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Sabtu, 09 April 2016

J P Morgan cut their US Q1 GDP forecast to +0.2% vs +0.7% previously

J P Morgan out with their latest review. Reuters reporting.

– citing today’s weaker report.

Say JPM:

While Q1 is adding up to be a clear disappointment relative to expectations from a few weeks ago, it now looks like the inventory correction was largely completed by the start of the second

I did say in the post at the time that inventories are a key component of US GDP and this downward revision backs that up. Significant revision at that but with the fastest pace of falls in nearly 3 years that’s not so surprising.





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