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US GDP grew by 0.8%

Friday, May 27 2016
Real gross domestic product increased at an annual rate of 0.8% in the first quarter of 2016, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.4%.In the advance estimate, the increase in real GDP was 0.5%. With the second estimate for the first quarter, the decrease in private inventory investment was smaller than previously estimated.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE), residential fixed investment, and state and local government spending that were partly offset by negative contributions from nonresidential fixed investment, exports, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, decreased.
 
Euro is currently being traded few points above 1.1130 level, Sterling is around 1.4630 handle, while Aussie is at 0.7180 area. Later today, Consumer Sentiment figures are scheduled for a release.
More in this category: « UK consumer confidence reflects persistent doubts about the economy Consumer confidence climbed less than forecast »

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