US first quarter advance GDP highlights.
- Q4 2014 GDP was 2.2%
- Sales -0.5% vs +1.0% exp
- Consumer spending +1.9%
- GDP deflator -0.1% vs +0.4% exp
- PCE prices -2.0% vs -1.8% exp
- GDP ex motor vehicles +0.4% vs +2.9% in Q4
- Home investment +1.3% vs +3.8% in Q4
- Business investment -3.4% vs +4.7% in Q4
- Investment in equipment +0.1%, investment in intellectual property +7.8%
- Business investment in structures -23.1%
- Exports -7.2%
- Imports +1.8%
- The first of three estimates on Q1 GDP from the US Bureau of Economic Analysis
Wretched number. US dollar drops at least 30 pips, right across the board.
US GDP Q1 2015
The inflation numbers are a second reason to sell the dollar.
The Commerce Dept said US GDP slowed due to stronger dollar, severe weather, west coast port dispute and lower energy prices (stop me if you've heard that one before).
