Industry in USA
USA - IndustryThe economy contracted slightly in Q1 according to preliminary data. Declines in federal, state and local government spending were partly to blame, with federal spending dampened by the winding-down of government support programs and lower defense expenditure. Lower private inventory investment and booming imports also weighed on the GDP reading. However, underlying dynamics were more encouraging: A red-hot labor market kept consumer spending growing briskly despite surging inflation and Omicron infections, while fixed investment growth sped up. Turning to the second quarter, GDP is expected to bounce back as the contribution of net trade improves. However, domestic demand is likely easing amid skyrocketing inflation and higher interest rates. Indeed, the S&P Global Composite PMI dipped to a three-month low in April on a softer services sector. Consumer confidence also ticked down in the month.
United States - Industry Data
|Industrial Production (annual variation in %)||-1.0||-2.0||2.3||3.9||0.9|
5 years of economic forecasts for more than 30 economic indicators.
United States Industry Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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United States: GDP records sharpest contraction since Q2 2020 in Q1, but underlying conditions are solid
April 28, 2022
GDP contracted 1.4% in seasonally-adjusted annualized rate terms (SAAR) in the first quarter, below the 6.9% expansion recorded in the fourth quarter of last year.
April 26, 2022
Consumer confidence came in at 107.3 in April, down from March's 107.6.
April 26, 2022
The S&P/Case-Shiller 20-city composite home price index rose 2.4% in month-on-month terms in February, which followed January's 1.4% increase.
April 18, 2022
Retail sales increased 0.4% in month-on-month seasonally-adjusted terms in March, which was softer than February’s 1.7% jump.
April 15, 2022
Total non-farm payrolls increased by 431,000 in March, following February’s 750,000 increase in payrolls.