US GDP - 2025-01-29
Date:
Thursday, January 30, 2025
Summary:
Real QDP at 2.3% for Q4-2024 disappoints us -- we were looking for 3% (but the Fed thinks only 1.8% is possible). The miss factor was inventory contraction, which is a surprise considering how tight inventories are. On the investment side, formation of intellectual property capital continues to be the engine of growth.