🚨 US GDP Miss

Advance GDP q/q came in at -0.3%

- Forecast: +0.2%

- Previous: +2.4%

⚠️ Implications:

US growth turned negative this quarter. A clear sign the economy is slowing down faster than expected.

It’s the first negative GDP print. Not a technical recession yet, but if next quarter is negative too, it will be.

This print adds to the case that rates may have stayed high for too long, and could force the Fed to soften its tone if other key data (NFP, CPI, PCE) also weakens.