Core PCE and GDP growth
版主： Nimitz
Re: Core PCE and GDP growth
Economic growth in the first three months of the year was lower than initially estimated, but so was a key inflation indicator, according to a Commerce Department report Thursday.
Real gross domestic product accelerated at a 1.3% annualized rate in the first quarter, down from the initial 1.6% estimate but a bit bitter than the 1.2% Dow Jones forecast. A reduction on consumption, from 2.5% growth to 2%, accounted for much of the downward revision.
On inflation, the chain-weighted price index, which accounts for adjustments in consumer behavior, rose 3% for the period, 0.1 percentage point lower than the first estimate. Economists had been looking for 3.1%.
In other economic news, the Labor Department reported that initial unemployment claims totaled 219,000 for the week that ended May 25, up 3,000 from the previous period but close to the forecast for 218,000. Continuing claims nudged higher to 1.791 million.