US Real GDP Growth W/E Mar 20, 2018

US real GDP growth in the fourth quarter of 2017 was reported as 2.9%, higher than the previous 2.5% estimate but down from 3.2% in the prior period of Q3. For 2017, real GDP grew at 2.3% over the prior year, but up on 2016 estimated real growth of 1.5%. The US economy continues to grow at a sub-3% rate annually; in the eight-year period since the 2008-09 recession, the US economy has expanded at a modest average of only 2.2%.

Recent economic projections of GDP growth from the Federal Reserve estimates a 3% increase in 2018 but then easing back to between 2% and 3% in 2019 and 2020. The promise of 4%-plus growth made earlier by the White House may prove elusive. However, the longer-term effects of tax cuts, the recent passage of increased budget spending, and an infrastructure bill, not expected now before early-2019, may yet boost economic growth closer to the 4% level. The global economy is forecast to grow 3.9% in 2018 according to both OECD and IMF estimates.

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Material contained in this report is based upon publicly available market data believed to be accurate and reliable and is presented for informational purposes only. KMR assumes no warranty or liability for its completeness, nor guarantees future market performance. Further, KMR assumes no liability for direct or indirect loss or damage from the use of information contained in this report, or from any unforeseen errors or omissions.

About the author

Patrick Magilligan

PGM sales veteran Pat Magilligan is the Director of PGM Marketing at Key Metal Refining LLC. Magilligan has over three decades of experience in commodities trading, sales, and research, working with the likes of Merrill Lynch, Prudential Securities, and A-1 Specialized Services & Supplies Inc.