US Q1 GDP (second reading) +1.3% vs +1.3% expected

• Advance Q1 reading was +1.6% annualized
• Final Q4 reading was +3.2% annualized
• Q3 was +5.2% annualized

Details:

• Consumer spending +2.0% vs +2.5% advance
• Consumer spending on durables +% vs -2.1% advance
• GDP final sales +1.7% vs +2.0% advance
• GDP deflator +3.1% vs +3.1% advance
• Core PCE +3.6% vs +3.7% advance
• Business investment +% vs +3.2% advance
• Corporate profits -1.7% vs +3.9% in Q1
• PCE services inflation excluding energy and housing 4.9% vs 5.1% advance

These numbers are a tad soft but likely not enough to jar the market.

Percentage point changes:

• Net trade pp -0.89 vs -0.86 pp advance
• Inventories -0.45 pp vs -0.37 pp advance
• Govt +0.28 pp vs +0.21 pp advance

This article was written by Adam Button at www.forexlive.com.