Marketing Owner
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The great uncertainty over whether and when US interest rates will fall took a twist with first-quarter GDP. Much slower growth, offsetting dynamics and higher inflation are creating a puzzle.
Quick take:
- US GDP growth was 1.6% in Q1, lower than expected and down from 3.4% in Q4
- Much of the slowdown was driven by unpredictable short-term changes in trade and business inventories
- As US interest rate cuts are pushed further into the future, other countries are feeling the strain
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