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23 Aug 2022 US Monitor Could Foreign Trade and Inventories Drive 5% Q3 GDP Growth

Ian Shepherdson (Chief Economist and Founder)19th Aug 2022 09:15U.S., Daily Monitor

Net trade and inventories look set to drive up Q3 GDP growth; we tentatively look for about 5%.

Imports are falling as demand for inventories fades; retailers over-ordered and now have excess inventory.

New home sales likely fell again in July, and prices are now under severe pressure as supply mounts.

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