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28th Apr 2022 00:20U.S., Daily Monitor

We think first quarter GDP fell at a 2.0% annualized rate, depressed by trade and inventories.

The surge in imports as inventories are rebuilt can’t possibly be sustained; growth will rebound in Q2.

Domestic private demand is rising strongly, with solid gain in Q1 consumption and business capex.

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Keywords for: US 28 Apr 2022

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence