March 30, 2023 12:58 GMT
GDI Tells A Much Softer Story For Q4
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- The more notable downward surprise in the Q4 data come from the first details for Gross Domestic Income (GDI), falling -1.14% annualized in Q4 in a sharp reversal of the +2.76% bounce in Q3.
- Averaging GDP and GDI, the economy only increased 0.7% annualized in Q4 after 3.0% in Q3 and an average -0.56% in 1H22, with growth slowing to just 0.6% Y/Y in Q4.