Ostrum
  • News & Chronicles
  • France
  • Euro Area
  • United States
  • International
  • Politics & Society
  • Monetary Policy
  • Media
  • Decoding
  • About Philippe Waechter
Philippe Waechter's blog
  • Insights
  • About us
  • Expertise
  • Our people
  • Media

Philippe Waechter's blog
My french blog
  • News & Chronicles
  • France
  • Euro Area
  • United States
  • International
  • Politics & Society
  • Monetary Policy
  • Media
  • Decoding
  • About Philippe Waechter
  • News & Chronicles
  • France
  • Euro Area
  • United States
  • International
  • Politics & Society
  • Monetary Policy
  • Media
  • Decoding
Philippe Waechter's blog
Prévôté
Previous Next
  • 1 min

4 Graphs on US GDP growth

  • 23 December 2014
  • Philippe Waechter
  • GDP
  • Monetary Policy
Total
0
Shares
0
0
0

US GDP growth for the third quarter was revised on the upside. Economic activity was up by 5% (annual rate). Compared to Q3 2013, GDP is up by 2.7% and carry over growth for 2014 at the end of the third quarter is 2.25%.
GDP growth number is the highest since the third quarter of 2003.
usa-en-2014-q3-gdp-vtrimThe recent acceleration is robust as it can be seen on the graph below which represents GDP level at constant prices. We see, as it could be seen also on the previous graph, that the first quarter weakness was temporary and clearly not a change in trend
USA-en-2014-q3-gdp-trendTwo remarks
On the chart below, the private internal demand (HH consumption and investment) is the main support for growth. Since 2011 in the Euro Area, rapid budget deficits adjustments have not allowed a strong and long-lasting recovery of the private demand. That’s a real reason for GDP weak trend in the Euro Area. Draghi has understood that but who before him at an official level?
usa-en-2014-Q3-gdp-int-demandEven if last numbers are strong, the current GDP per capita trajectory shows a moderate recovery. GDP per capita is 2.7% above last business cycle peak (Q4 2007). It is still far from what was seen in previous recoveries.
That’s why tensions on the US economy are still limited 5 years after the end of the recession. This gives time to the Fed in the management of its monetary policy.
usa-2014-q3-gdppercapita

Related Topics
  • GDP
  • Monetary Policy
On the same topic
  • 3 min

Growth: the Gallic village resists

  • 20 March 2019
  • France

Philippe Waechter

INSEE, the French statistical institute published its new forecasts for the first half of this year. (Its forecasts are just for a semester to avoid being in conflict with the…
  • Business Cycle
  • Growth Profile in 2019
  • INSEE
READ
  • 1 min

The German economy on the way to normalization

  • 25 February 2019
  • Germany

Philippe Waechter

German growth stopped during the second half of 2018. During this period, the GDP was up by only +0.1% compared to the first six months (at annual rate). It can…
  • Gerùany
  • Private Demand
READ
  • 2 min

French growth's low momentum

  • 30 January 2019
  • France

Philippe Waechter

The French GDP growth was 1.1% (at annual rate) during the fourth quarter of last year. The same number than during the third quarter. Social unrest has had no impact…
  • GDP
READ
Subscribe to the newsletter

All the news from Philippe Waechter’s blog in your mailbox

Loading
ABOUT PHILIPPE WAECHTER

Ostrum's expert magazine

ABOUT OSTRUM AM
  • About us
  • Media room
  • Our publications
FOLLOW ME ON
EXTERNAL LINKS
  • Economists
  • Think tank
  • Central banks
  • Blog roll
©Ostrum AM 2019
An affiliate of : Plan de travail 2

Input your search keywords and press Enter.