Meanwhile, the third and final look at 1Q Gross Domestic Product , the broadest measure of economic output, showed the previously revised quarter-over-quarter (q/q) annualized 1.0% decline was adjusted to a 2.9% pace of contraction. Economists had expected a downward revision to a 1.8% decline, and the pace of growth was down from the 2.6% expansion posted in 4Q. Moreover, personal consumption was revised much lower than projected from the second reading of a 3.1% increase to a 1.0% rise, versus the 2.4% gain that was anticipated, and following the 3.3% increase recorded in 4Q.
On inflation, the GDP Price Index was unrevised at a rise of 1.3%, matching economists' expectations, while the core PCE Index, which excludes food and energy, was unadjusted at a 1.2% increase, inline with economists' forecasts.
Source: Schwab
On inflation, the GDP Price Index was unrevised at a rise of 1.3%, matching economists' expectations, while the core PCE Index, which excludes food and energy, was unadjusted at a 1.2% increase, inline with economists' forecasts.
Source: Schwab
