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Economic Research

Q1 2010 U.S. GDP Growth: Parsing the Data and Looking Ahead

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3:30:00 PM | Last Updated

EXECUTIVE SUMMARY

Headline real GDP growth is in line with our expectations: an upside surprise to our forecasts came from residential investments, and a downside surprise came from the external sector. The external sector was a drag on growth in Q1 2010. RGE forecasts flat contribution from trade throughout 2010, but the situation in Europe poses downside risks for exports as highlighted in our U.S. outlook. The U.S. consumer went shopping in Q1 as expected, but don’t expect this to last. Final sales remain very weak, as expected.

  • GDP: 3.2% -- RGE expected 3.0%
  • Personal[...]

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