In the initial estimate released on Thursday by the US Bureau of Economic Analysis (BEA), it was revealed that the actual Gross Domestic Product (GDP) of the US expanded by 1.6% on an annualized basis in the January-March period. This expansion, coming in short of market predictions of 2.5%, followed a 3.4% growth in Q4 2023.
The real Gross Domestic Product (GDP) of the US expanded at an annualized rate of 2.4% in the second quarter, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday. This reading followed the 2% growth recorded in the first quarter and surpassed the market expectation of 1.8% by a wide margin.
A screeching halt for the US economy? That is what an annualized growth rate of 1.1% represents, but this time, there is much more than meets the eye. The world's largest economy expanded by less than 0.3% on a quarterly basis, but it has good excuses. And the US Dollar has even more reasons to rise.
The US economy expanded at an annualized rate of 1.1% in the first quarter of 2023, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday. This reading followed the 2.6% growth recorded in the last quarter of 2022 and came in worse than the market expectation for an expansion of 2%.
