The first quarter GDP report released by the Department of Commerce rose 3.2% unexpectedly. This was a higher pace of increase in the GDP comparing to the last quarter of 2018 where the US economy rose just 2.2%. The upbeat data pushed the greenback to a new one and a half-year high. But the markets closed mixed amid profit-taking across the board.
US GDP Data Release
The US economic growth in the Q1 2019 positively surprised. Indeed, on the upside. The doubting Thomasses were proven wrong. And The Socialist Party just won the snap elections in Spain. Is the left back in vogue in the Eurozone? But what does it all mean for the gold market?
april data release review
The US economy grew by an annualized rate of 3.2% in Q1 2019 according to the initial release. The figure came out above the official expectations (2.1%), the Atlanta Fed ones (2.7%) and above the whispers (around 3%). The outstanding headline stands out amid government shutdown that weighed on the economy in January. It also stands out against the fact that the first quarter of the year is usually weak. This is the first time the US economy grew by more than 3% in Q1 since Q1 2013. The largest economy in the world outperformed its peers in the past few quarters. The US economy was only marginally hit by the trade war with China. Exports are up 3.7%, and imports are down by the same scale.