Bloomberg Daybreak: US Edition Daybreak Weekend: CPI Preview, Reeves Statement, BYD Earnings
Mar 21, 2025
Stuart Paul, a U.S. economist from Bloomberg Economics, shares insights on anticipated U.S. inflation data and its implications for economic growth. He dives into how tariffs are impacting the housing market, potentially affecting homebuyers and builders. Danny Lee, Bloomberg's Asia transport reporter, previews Chinese EV maker BYD's earnings, highlighting its market competition with Tesla and innovations in electric vehicle technology. Their discussion reveals significant trends affecting both the U.S. and global economies.
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Q4 2024 US Economic Growth
- The US economy grew at a 2.3% annualized pace in Q4 2024, driven by consumer spending.
- Growth is expected to slow in 2025 amid policy uncertainty.
Consumer Spending Trends
- US consumer spending saw a pullback in January due to auto sales decline and a polar vortex.
- A rebound is expected in February, driven by auto sales, healthcare spending, and some discretionary goods.
Inflation Concerns
- February's PCE inflation is expected to be high, driven by financial services, food services, healthcare, and goods inflation.
- This raises concerns, especially with new tariffs taking effect, justifying the Fed's decision to hold rates steady.