- Analytics
- News and Tools
- Market News
- U.S. revised GDP drops 0.7% in the first quarter
U.S. revised GDP drops 0.7% in the first quarter
The U.S. Commerce Department released gross domestic product (GDP) figures on Friday. The U.S. revised GDP declined 0.7% in the first quarter, missing expectations for a 0.1% fall, down from the previous estimate of a 0.2% rise.
The decline in first quarter was driven by harsh weather and the strong U.S. dollar.
The downward revision was partly driven by an upward revision to imports.
Consumer spending rose by 1.8% in the first quarter, down from the previous estimate of a 1.9% increase.
Business investment declined 2.8% in first quarter, the biggest fall since late 2009.
Exports dropped 7.6% due to a stronger dollar, while imports climbed 5.6%.
The Personal consumer expenditures (PCE) price index declined 2% in the first quarter. The PCE price index excluding food and energy costs rose 0.8%.
The PCE price index is the Fed's preferred gauge for inflation.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
