US Q1 advance GDP -1.4% vs +1.1% expected

• Q4 final was 6.9% annualized
• Consumer spending +2.7% vs +2.5% prior
• Consumer spending on durables -4.1% vs +2.5% in Q4
• GDP deflator +8.0% vs +7.3% expected
• Core PCE +5.2% vs +5.4% expected
• GDP final sales -0.6% vs +1.5% in Q4
• Nominal GDP vs up 14.3% annualized in Q4
• Business investment +9.2% vs +2.9% in Q4
• Home investment +2.1% vs +2.2% in Q4
• GDP ex motor vehicles -1.3%
• Full report

Details:

• Inventories cut 0.84 pp from growth
• Net trade cut 3.2 pp from growth

• Home investment cut 0.03 pp from GDP
• Personal consumption added 1.83 pp GDP
• Gross private domestic investment added 0.43 pp to GDP
• Government spending cut 0.48 pp from GDP

The US had the strongest annual growth in 2021 since 1984 but trade and inventories weighed in the first quarter. The 8.0% inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term number is certainly a problem.