Still plumbing the depths of output

Category:

Please see below the latest ‘Chart of the Week’ from State Street Global Markets.

 

This week Michael Metcalfe, global head of Macro Strategy, discusses the uncertainty around measuring the US growth contraction in the second quarter.  

“The advance estimate of US second-quarter GDP will provide the most comprehensive measure yet on the dept of the recession. Monthly data has swung wildly during the quarter, prompting first a lurch to a more negative distribution of forecasts, before correcting again. The median. or what used to be known as the consensus estimate, is around 30 percent, however, the fact that the range of forecasts is a full 40 percent says all that needs to be said on the uncertainty surrounding the release.”

Still plumbing the depths of output

 Source: State Street Global Markets, Bloomberg

 

Investing involves risk including the risk of loss of principal.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon.  You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.

The views expressed in this material are the views of State Street through the period ended July 27, 2020 and are subject to change based on market and other conditions.

This news announcement contains forward-looking statements as defined by United States securities laws, including statements about the financial outlook and business environment. Those statements are based on current expectations and involve a number of risks and uncertainties, including those set forth in State Street's 2015 annual report and subsequent SEC filings.  State Street encourages investors to read the corporation's annual report, particularly the section on factors that may affect financial results, and its subsequent SEC filings for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this press release speak only as of the date hereof, July 27, 2020 and the company will not undertake efforts to revise those forward-looking statements to reflect events after this date.

State Street Corporation One Lincoln Street, Boston, MA 02111-2900.

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street’s express written consent.

© 2020 State Street Corporation - All Rights Reserved

 

Expiration date: July 31, 2021

Tracking Number: 3179967.1.1.GBL.RTL

 

Media Contacts

Contact a member of the State Street Media Relations Team.

Social Media

Business Wire NewsHQ℠
Cookie Settings