Final Q1 GDP Revision Meets Expectations; Central Bankers Lower Outlook Second Time
Tweet
Share
E-mail
Revised GDP data from the Commerce Department Friday showed the US economy grew at 1.9 percent in the first quarter.
The number is in-line with expectations, up from 1.8 percent as of last revision, and adds to the 3.1 percent gain in the preceding quarter.
Factors weighing on continued momentum, such as crude prices and the Japan earthquake in March, seem to be ebbing, the department noted.
U.S. central bankers recently lowered the Fed's expansion expectations for 2011, from 3.1 - 3.3 percent to 2.7 - 2.9 percent. This is the second time this year that Fed officials lowered expectations for 2011.
The number is in-line with expectations, up from 1.8 percent as of last revision, and adds to the 3.1 percent gain in the preceding quarter.
Factors weighing on continued momentum, such as crude prices and the Japan earthquake in March, seem to be ebbing, the department noted.
U.S. central bankers recently lowered the Fed's expansion expectations for 2011, from 3.1 - 3.3 percent to 2.7 - 2.9 percent. This is the second time this year that Fed officials lowered expectations for 2011.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Humana (HUM) surges on Q1 beat, reiterated adjusted earnings outlook
- US business activity cools in April; inflation measures mixed
- Durable Goods (Mar P) 2.6% vs 2.5% Expected, Ex-Trans 0.2% vs 0.2%
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogRelated Entities
Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
