Technical Analysis

The US This autumn GDP downgrades have begun

Cuts from Goldman, Barclays and Capital Economics

Goldman Sachs now sees This autumn GDP at a 2.zero% annualized tempo in its tracker, down from 2.5%. Barclays reduce more durable, all the way down to 2.1% from 2.eight%.

From Capital Economics:

“The surprising plunge in management group retail gross sales in
December signifies that fourth-quarter GDP development was most likely nearer 2.5%
annualised than the three.1% we had pencilled in and, extra worryingly, it additionally
suggests the financial system entered 2019 with much less momentum than anticipated.”

In addition they notice that it wasn’t only a one-off. All through This autumn, the annualized tempo of development within the management group was 1.eight% in comparison with four.zero% in Q3.

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