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$110 billion wiped off US GDP: implications for commodity markets


$110 billion wiped off US GDP: implications for commodity markets

Report summary

The US Bureau of Economics Analysis wiped $110 billion off US GDP on July 30. The US economy is now officially smaller than we thought. Specifically, consumption and government spending estimates were cut for 2012 and 2013. 2013 endured the most significant downward revision with annual GDP growth now reported to have grown just 1.5% vs the previous BEA estimate of 2.2%. How does the US economy now compare to its developed peers and what, if any, are the implications for commodity markets?  

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  • $110 billion wiped off US GDP: implications for commodity markets PDF - 366.62 KB 4 Pages, 1 Tables, 5 Figures

Description

This Macroeconomics and Global Trends Insight report presents our research on this key topic, and draws out the implications for economies and commodity markets.

This report delivers a clear understanding of our unique global economic outlook and identify risks and uncertainties to watch out for.

Wood Mackenzie's global trends and macroeconomic analysis underpins all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

Our comprehensive understanding of commodity markets gives us a unique insight into the pace of global development and the risks associated with it.

  • What lies behind the revision?
  • Implications for commodity markets

In this report there are 6 tables or charts, including:

  • What lies behind the revision?
    • Real personal consumption
    • $110 billion wiped off US GDP: implications for commodity markets: Image 3
    • $110 billion wiped off US GDP: implications for commodity markets: Image 4
    • $110 billion wiped off US GDP: implications for commodity markets: Image 5
  • Implications for commodity markets
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