US Q1 final GDP +1.4% vs +1.3% expected

• Second reading was +1.3%
• Final Q4 reading was +3.2% annualized
• Q3 was +5.2% annualized

Details:

• Consumer spending +1.5% vs +2.0% second reading
• GDP final sales +1.8% vs +1.7% second reading
• GDP deflator +3.1% vs +3.1% second reading
• Core PCE +3.7% vs +3.6% second reading
• Corporate profits -2.7% vs -1.7% in second reading
• PCE services inflation excluding energy and housing +5.1% vs 4.9% second reading

What’s the signal here? Higher inflation. Or lower consumer spending signalling downward pressure on prices? I’d ignore both as this is stale data with the second quarter now just a few days away.

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