US GDP update shows US economy grew at more robust annualized rate of 5.2% in Q3, revised from +4.9% and after +2.1% QoQ in Q2
The Q3 contribution from inventories was +1.4%, revised from +1.3%, after 0% in Q2. Contribution from consumers +2.4% revised down from prev 2.7%. Contribution from net exports was -0.04%, revised from -0.08%, after +0.04% in Q2. Source: HolgerZ, Bloomberg
Dozen of countries are now seeing a steady decline in C02 emissions alongside economic growth
Another tangible proof that being green (or at least greener) does not mean de-growth Source: FT
And we're back to Bidenomics trendline
Source: www.zerohedge.com
US Q3 GDP numbers summarized in one cartoon
Source: Elizabeth Oliveira Fonseca
US GDP grew 4.9% in Q3 QoQ annualized, way faster than +4.3% expected
However, bond yields dropped in the afternoon session. This Bloomberg US GDP chart shows why. Indeed, US GDP growth in Q3 was mainly driven by private consumption & inventories. This may not last. Source: Bloomberg, HolgerZ
G7 vs. BRICS GDP
Source: Visual Capitalist, Barchart
German business outlook is improving, feeding rebound hopes
Ifo expectations index rose to 84.7 in Oct, up from 83.1 in Sep and way better than BBG consensus of 83.5. "What we see here does suggest that we see a certain stabilization,” Ifo President Clemens Fuest told BBG. “The German economy will be shrinking this year, but for the final quarter we do expect a stabilization, slight growth.” Source: HolgerZ, Bloomberg
The global EPS cycle continues to improve, with nominal GDP growth continuing to support the cycle
Source: SocGen, TME
