Market Weekly: June 21 – 27 2020

#23987
TradersCom
Keymaster

US Q1 GDP (third reading) -5.0% v -5.0% expected

Second reading was -5.0%
Q4 2019 reading was +2.1%

Final sales -3.5% vs -3.7% prelim
Consumer spending -6.8% vs -6.8% prelim
GDP deflator +1.6% vs +1.6% prelim
Core PCE +1.7% vs +1.6% exp
Business investment -6.4% vs -7.9% prelim
Corporate profits after tax -12.4% vs -14.2% prelim

Inventories cut 1.56 percentage points from GDP.