October 2011 | North American Steels
Third-quarter US GDP growth surprises, but rate of recovery still not going to be swift
While 2.5% growth is still considered modest, it will not significantly provide the boost needed to cut unemployment. There are, however, indications of strengthening sectors in the economy which, if they continue to grow, will support steel product demand.
Yesterday’s advance release of third-quarter US GDP provided a confidence boost to steel market participants with a surprising 2.5% quarter-on-quarter growth for the inflation-adjusted estimates. After 1.3% growth in the second quarter, the expectation was that the economy would continue to grow at less than 2% quarter-over-quarter through the end of the year. While 2.5% growth is still considered modest, it will not significantly provide the boost needed to cut unemployment. There are, however, indications of strengthening sectors in the economy which, if they continue to grow, will support steel product demand. ...
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