Economic Growth In The U.S. Economy Unexpectedly Accelerated In The First Quarter April 26, 2019
Economic Growth In The U.S. Economy Unexpectedly Accelerated In The First Quarter, according to data released on Friday.
The Bureau of Economic Analysis said Friday that gross domestic product registered a seasonally adjusted annual rate of 3.2% growth in the first three months of 2019, above expectations for a reading of 2.0% and an increase from the previous 2.2% expansion.
U.S. futures immediately saw upside after the release with Dow futures paring earlier losses, S&P futures turning slightly positive and Nasdaq 100 futures extending gains ahead of the open.
The strong expansion was boosted by inventories and trade that served to offset a slowdown in consumer spending.
The reading blasted past not only the consensus estimate but settled well above the highest estimate of 2.9% in the most recent Bloomberg survey of economists.
The lowest projection in the poll was 1.0% as many analysts felt that the government shutdown that ended on Jan. 25 would dampen economic growth.
“Published & Edited By: Senior Financial Analyst. Alaa Tabib – Gulf Brokers DMCC – Regulated & Licensed By SCA & DGCX”
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