Prior estimate 1.6%. Prior quarter 0.5% GDP Final Q1 2.1% vs 1.6% estimate and 1.6% prior estimateGDP sales final 1.9% vs 1.5% estimate and 1.5% prior estimateGDP consumer spending final 0.5% versus 1.4% prior estimateGDP Deflator 3.6% vs 3.5% est. and 3.5% prior estimate.Core PCE Final 4.4% vs 4.4% estimate and 4.4% prior estimate.PCE Prices Final 4.6% vs 4.5% estimate and 4.5% prior estimate.PCE Ex Food, energy and Housing 4.8% versus 4.7% prior estimate.PCE Excluding Energy and housing 4.7% versus 4.6% prior estimate.<\/p>\n
Contributions into GDP: <\/p>\n
Consumption 0.37%. Investment 1.35%Net exports of goods and services -0.37%Government 0.74%<\/p>\n
Sticking out is the low real consumption number at 0.37%.The US economy has traditionally been pushed by the consumer with Trade subtracting and investment, Government in between. That mix was jumbled up a bit. Trade was less of a drag. Government and investment led the gains. <\/p>\n
Looking at the contributions by industry group, the information and Federal government led the way with 0.69%. Retail trade was the weakest at -0.47%.<\/p>\n
Other details:<\/p>\n
The latest GDP revisions painted a mixed picture of the U.S. economy. Underlying private demand slowed, with real final sales to private domestic purchasers rising just 1.7%, down from the previous estimate of 2.4%. Real gross output increased 1.7%, driven primarily by a 4.9% surge in government output, while private goods-producing industries were essentially flat. On the income side, real GDI rose 1.2%, and the average of GDP and GDI increased 1.7%, suggesting the economy continued to expand at a modest pace. Meanwhile, corporate profits increased by $74.4 billion, a stronger gain than previously estimated. Inflation pressures remained elevated, with the PCE price index rising 4.6% and core PCE increasing 4.4%, indicating that inflation remained well above the Fed’s target during the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"Prior estimate 1.6%. Prior quarter 0.5% GDP Final Q1 2.1% vs 1.6% estimate and 1.6% prior estimateGDP sales…\n","protected":false},"author":2,"featured_media":518221,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-518220","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/518220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=518220"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/518220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/518221"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=518220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=518220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=518220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}