Goldman Sachs Comments on US Q1 GDP Tracking at 2.3%

Goldman Sachs Updates US Q1 GDP Tracking to 2.3%

Goldman Sachs has revised their estimates for the US Q1 GDP growth to 2.3% following a positive trend in factory orders and stable job openings. The factory orders increased by 1.4% in February, above expectations. Job openings were broadly in line with expectations at 8,756k in February. The jobs-workers gap based on the JOLTS stands at 2.0mn in March, indicating steady employment rates.

Key Points:

• Factory orders saw a +1.4% growth in February, surpassing estimates.
• Job openings remained stable at 8,756k in February.
• Goldman Sachs notes the positive trend in both factory orders and job openings.

Overall, the revised US Q1 GDP tracking reflects a moderate but positive outlook for the economy.