Tag: Household Final Consumption Expenditure (HFCE)
GDP numbers ‘better-than-expected’, but a depression may be looming
The market expected the economy to shrink by 3.8% over the first quarter so the -2.0% print for Q1 2020 GDP (quarter-on-quarter, seasonally adjusted and annualised) might be slightly better than anticipated, but it almost means nothing. This performance takes us only up to the end of March so it includes less than five working days of the lockdown.
