US economy shrinks, but is it temporary?
Thursday 1st May 2025
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Markets responded to a larger than expected fall in US GDP reported this morning. But, as NAB’s Skye Masters suggests, equity markets clawed their way back in late trade. Perhaps its because the fall was largely driven by short term factors, in particular a much higher than expected level of imports, cars in particular, ahead of the imposition of tariffs. Canada saw a similar impact on their GDP read, whilst the European economy was exempt from such impacts. Yesterday’s Aussie…
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