- Real GDP grows 3.1% in the first quarter as expected.
- GDP Price Index ticked up to 0.6% from 0.5% in the previous quarter.
- Personal Consumption Expenditure Prices came in at 0.5% on a quarterly basis.
According to the U.S. Bureau of Economic Analysis’ (BEA) third estimate, the real gross domestic product (GDP) in the U.S. expanded 3.1% on a yearly basis in the first quarter to match the market expectation and the previous estimate.
Following a muted reaction to the data, the US Dollar Index continues to move sideways near 96.20.
Other details of the report revealed that GDP Price Index rose to 0.6% from 0.5% and the Personal Consumption Expenditures (PCE) Prices came in at 0.5% on a quarterly basis in Q1 and surpassed the market expectation of 0.4%