US GDP deceased by 0.2% in the first quarter

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Wednesday, Jun 24 2015

US GDP decreased 0.2% in the first quarter of 2015, in contrast to an increase of 2.2% in the fourth quarter of 2014. The downturn in the percent change in real GDP reflected a deceleration in PCE and downturns in exports, in nonresidential fixed investment, and in state and local government spending that were partly offset by upturns in private inventory investment and in federal government spending and a deceleration in imports.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, decreased 1.6% in the first quarter, the same decrease as in the second estimate; this index decreased 0.1% in the fourth quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 0.1%, compared with an increase of 0.7%.

After the data was released USD added few points. Euro is currently being traded slightly below 1.12 handle, Sterling is few points above 1.5730 level, while Aussie is around 0.7730 area.

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