United Status GDP rises in first quarter of 2019
2019-05-30 01:02 pm | Resource: News | No Views : 61
US first quarter GDP data, weekly jobless claims for the week ending May 25 and April's Advanced Merchandise Trade data were released at 14:30 CET on Thursday. After these data, the dollar fell against the major currencies.
US GDP grows 3.1% in the first quarter
The US Department of Commerce said on Thursday that US GDP growth fell 3.1% in the first quarter of 2019, up from 2.2% in the last three months of the previous year. The last estimate of the previously published decline was 0.1% and is now more in line with analysts' expectations.
The published estimates today reflected downward revisions to fixed nonresidential investments and investment in private stocks, while exports and personal consumption expenditures (PCE) rose. The increase in real GDP is mostly attributable to personal consumption expenditure, investment in private stock, exports, and government and local government spending. Total imports to the United States, which are deducted from the GDP figure, declined during the same period.
The personal consumption expenditure index rose by 0.4% in the three months to March 2019, compared to a 1.5% increase in the fourth quarter of 2018. Excluding food and energy prices, the personal consumption expenditure index rose by 1% compared to the previous increase of 1.8% %.
Weekly jobless claims in the US are up to 215,000
- A report released by the Department of Labor on Thursday showed a slight rise in US jobless claims for the first time in the week ending May 25.
- Initial jobless claims rose to 215,000, an increase of 3,000 from the revised level of 212,000 last week, the report said.
- Economists had expected the jobless claims to rise to 210,000 claims out of 210,000 claims the previous week.
- At the same time, the Labor Department said the four-week moving average was down to 216,750, down by 3,750 from the revised average of the previous week at 220,500.
Wholesale inventories in the US rose 0.7% in April
US wholesale inventories rose 0.7% in April from $ 674.5 billion in the previous month, the US Census Bureau said on Thursday. On an annualized basis, total inventories increased by 7.4% compared to the same month last year. The international trade deficit hit $ 72.1 billion in April, up $ 0.2 billion from $ 71.9 billion in March. April's exports totaled $ 134.6 billion, down $ 5.9 billion from March's exports. April's import of goods totaled $ 206.7 billion, down $ 5.6 billion from March's imports.
At the same time, April's retail stocks, adjusted for seasonal changes but not for price changes, estimated $ 660.9 billion, up 0.5 percent from March 2019 and 4.5 percent from April 2018.
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