A fall in US GDP doesnt signify recession, yet
b'Friday 29th April 2022The US delivered a sharp fall in GDP in the first quarter. It wasn\\u2019t expected and could naturally spark fears that recession could be coming to the US sooner rather than later. But NAB\\u2019s Tapas Strickland says \\u2018beneath the hood\\u2019 the numbers showed that the US economy was still performing relatively well, with the numbers dragged down by a larger negative trade balance and lower inventories. As a result, equities continued to push higher, along with the US dollar. Inflation fears are rising in Europe though, with a higher-than-expected CPI read for Germany. These concerns pushed front-end yields higher and forced the Riksbank to unexpectedly lift their rates.
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