24 Jun 2015
US: GDP contracts 0.2% in Q1, final reading
FXStreet (Córdoba) - US economy contracted by a revised 0.2% seasonally adjusted annual rate in the first quarter, versus a previously estimated decrease of 0.7%.
The revision, in line with forecasts, resulted from a smaller drop in exports than previously estimated and a bigger increase in consumer spending.
Meanwhile, the US GDP Price Index was flat against expectations of -0.1%. US core PCE unrevised at 0.8% as expected while personal consumption was upwardly revised to 2.1% from 1.8%.
The revision, in line with forecasts, resulted from a smaller drop in exports than previously estimated and a bigger increase in consumer spending.
Meanwhile, the US GDP Price Index was flat against expectations of -0.1%. US core PCE unrevised at 0.8% as expected while personal consumption was upwardly revised to 2.1% from 1.8%.