{"id":5349,"date":"2023-04-10T17:35:53","date_gmt":"2023-04-10T17:35:53","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/bofa-sees-meaningful-risks\/"},"modified":"2023-04-10T17:40:25","modified_gmt":"2023-04-10T17:40:25","slug":"bofa-sees-meaningful-risks","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/bofa-sees-meaningful-risks\/","title":{"rendered":"BofA sees &#8216;meaningful risks&#8217; of Q2 U.S. economic contraction"},"content":{"rendered":"<p>(Reuters) &#8211;     The U.S. economy is at risk of shrinking in the second quarter, BofA Global Research wrote in a client note, following recent economic data that hinted that the Federal Reserve&#8217;s aggressive interest rate hikes were cooling the economy.<\/p>\n<p>&#8220;This week&#8217;s data flow is consistent with our view that the U.S. economy slowed steadily over the course of 1Q 2023,&#8221; BofA economists wrote in a note dated Friday and emailed Monday. &#8220;As a result, the hand-off to 2Q looks weak. We see meaningful risks of a contraction in GDP in 2Q.&#8221;<\/p>\n<p>BofA pointed to data from April 3 showing U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged.<\/p>\n<p \/>\n<p> (Reporting by Reuters markets team; Editing by Mark Porter)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/bofa-sees-meaningful-risks\/a-man-walks-his-dog-without-wearing-a-face-mask\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ390IH-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ390IH-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; The U.S. economy is at risk of shrinking in the second quarter, BofA Global Research wrote in a client note, following recent economic data that hinted that the Federal Reserve&#8217;s aggressive interest rate hikes were cooling the economy. &#8220;This week&#8217;s data flow is consistent with our view that the U.S. economy slowed steadily [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":5350,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-5349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ390IH-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/5349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=5349"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/5349\/revisions"}],"predecessor-version":[{"id":5351,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/5349\/revisions\/5351"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/5350"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=5349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=5349"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=5349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}