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Livesquawk - Stimulus Cheques Pumped US GDP Growth In Q1
Stimulus Cheques Pumped US GDP Growth In Q1
Economist's View

Sal Guatieri, senior economist at BMO Capital Markets said, “The burst of growth came despite widespread snowstorms and regional blackouts mid-quarter, and some shuttering of auto plants due to chip shortages. Perhaps more importantly, the economy was still partly shut for most of the quarter, with most states more fully easing restrictions after mid-March...this implies even more of a bounce in Q2 GDP.

 

“The Q1 gain reflects the two rescue bills passed since late December, easing pandemic restrictions, speedy vaccinations, and unleashed pent-up demand fuelled by massive excess household saving.”