US GDP data weakest of a disappointing lot....
Data released today show that Q1 2017 real GDP growth:
- In the US slowed to 0.7 quarter-on-quarter (qoq) annualised, from 2.1% qoq in Q4 2016 – the weakest growth rate in three years (see Figure 1);
- In the UK halved to 0.3% qoq – the weakest growth rate in a year;
- In France slowed to 0.3% qoq from 0.5% qoq in Q4 2016; and
- In Spain rose to 0.8% qoq from 0.7% qoq in Q4 2016.
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