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US GDP increased by 1.1% in Q1

Tuesday, Jun 28 2016
Real gross domestic product increased at an annual rate of 1.1% in the first quarter of 2016, according to the 
"third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2015, real GDP increased 1.4%. The increase in real GDP in the first quarter reflected positive contributions from personal consumption expenditures (PCE), residential fixed investment, state and local government spending, and exports that were partly offset by negative contributions from nonresidential fixed investment, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, decreased.
The Conference Board Consumer Confidence Index, which had decreased in May, improved in June. The Index now stands at 98.0 (1985=100), up from 92.4 in May. The Present Situation Index increased from 113.2 to 118.3, while the Expectations Index rose from 78.5 to 84.5 in June. "Consumer confidence rebounded in June, after declining in May," said Lynn Franco, Director of Economic Indicators at The Conference Board.
 
Euro is currently being traded few points above 1.1050 level, Sterling is around 1.33 handle, while Aussie is at 0.7360 area.
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