Thursday's economic agenda in the US features the unveiling of the initial GDP report for the first quarter, set to be disclosed at 12:30 GMT. Analysts anticipate that the first assessment will reveal a 2.5% growth rate for the world's largest economy in the January–March period, a moderately robust pace, albeit markedly slower than the 3.4% expansion recorded in the preceding quarter.
The real Gross Domestic Product (GDP) of the US expanded at an annualized rate of 2.4% in the second quarter, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday. This reading followed the 2% growth recorded in the first quarter and surpassed the market expectation of 1.8% by a wide margin.
A screeching halt for the US economy? That is what an annualized growth rate of 1.1% represents, but this time, there is much more than meets the eye. The world's largest economy expanded by less than 0.3% on a quarterly basis, but it has good excuses. And the US Dollar has even more reasons to rise.
The US economy expanded at an annualized rate of 1.1% in the first quarter of 2023, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday. This reading followed the 2.6% growth recorded in the last quarter of 2022 and came in worse than the market expectation for an expansion of 2%.
