Bloomberg Daybreak: Asia Edition Daybreak Weekend: Nvidia Preview, Poland Election, BOK Decision
May 23, 2025
Hyo-sung Kwong, a Bloomberg Economics expert covering Korea, and Stuart Paul, a U.S. economist, delve into pressing economic themes. They discuss upcoming U.S. GDP data and Nvidia's earnings prospects amid trade challenges. The conversation shifts to Poland's pivotal presidential election, examining its potential impact on EU relations. Additionally, they analyze South Korea's monetary policy facing new tariffs and inflation concerns, exploring how these dynamics shape the region's economic stability.
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US Q1 GDP Growth Soft Outlook
- The US Q1 GDP growth likely to be revised only slightly upward to about 0%, still signaling weak economic activity.
- Trade tensions and higher trade barriers are damping domestic demand and economic performance.
Mixed Signals on Inflation Trends
- Core PCE inflation in April might show only 0.1% growth due to offsetting movements in goods and services prices.
- Future inflation pressures may increase as services prices catch up and tariffs' pass-through impacts deepen.
Nvidia Beats Headwinds Confidently
- Despite export restrictions and tariffs, Nvidia is expected to report a strong beat and raise due to factors like its Blackwell chip strength.
- Nvidia’s diversified product shipments and new China variant chips help offset revenue losses from restrictions.