Market Weekly: May 24 – 30 2020

#23822
TradersCom
Keymaster

US Q1 GDP (second reading) -5.0% v -4.8% expected

The second estimate showed. It is the biggest drop in GDP since the last quarter of 2008 as the Covid-19 pandemic forced several states to impose lockdown measures in mid-March

First reading was -4.8%
Q4 2019 was +2.1%

Final sales -3.7% vs -4.3% prelim
Consumer spending -6.8% vs -7.6% prelim
GDP deflator +1.6% vs +1.4% prelim
Core PCE +1.6% vs +1.8% exp
Gross private fixed investment -10.5% vs -5.6% prelim
Investment in equipment -196.7% vs -15.2% prelim
Exports -8.7% vs -8.7% prelim
Imports -15.5% vs -15.3% prelim
Government +0.8% vs +0.7% prelim