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LAST UPDATE:4/16/2021
CQM 20210416 CQM 20210416

Retail sales jumped 9.8% in March after falling a revised 2.7% in February. Industrial production index rose 1.4% in March after it fell 2.6% in February. These economic indicators significantly affected both CQM and PCA forecast. CQM forecasts economic growth rate in 2021Q1 to be 7.45% on the expenditure side and 8.41% on the income side. The average growth rate of real GDP on both side, similar concept of GDO, is 7.93%. PCA also adjusted economic growth rate upward to be 8.04%. Based on this week’s CQM and PCA forecast it is likely that the economy would have grown at annual rate of about 8% in 2021Q1.

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