fxstreet.com 01 Feb, 2021 11:15 am

GDP is forecast to expand 4.5% in 2021 – UOB

Senior Economist at UOB Group Alvin Liew reviews the latest US GDP data published last week. Key Quotes “The 4Q 2020 GDP increased by 4.0% q/q SAAR (s

But if we exclude the record 3Q jump, the 4% growth in 4Q will be the highest growth since 3Q 2014.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Two components that previously dragged on US headline GDP in 3Q, continued to decline in 4Q, namely government fiscal stimulus and net exports of goods and services.

” “The recovery trajectory remains highly uncertain but premised on the successful rollout of vaccinations across the US, and more fiscal stimulus in the coming months, we now project, after a temporary 1Q contraction of 2%, US GDP will rebound meaningfully in the subsequent three quarters.” “The growth in 3Q was again attributed to private consumption, business & residential investments and inventories, but their contributions notably were at a much slower rate compared to 3Q.

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