The third estimate of Q1 growth
Second estimate was +2.2%
Q4 was 2.9%
Personal consumption +0.9% vs +1.0% expected
GDP price index +2.2% vs +1.9% expected
Core PCE q/q +2.3% vs +2.3% second estimate
Business investment +10.4% vs +9.2% second estimate
Exports +3.6% vs +4.2% second estimate
Imports +3.2% vs +2.8% second estimate
Business inventory change +13.9B vs +20.2B prior
The +0.9% rise in consumer spending was the weakest in nearly five years and it contributed, along with slower trade and inventory building to a downward revision to growth. It was bolstered by a revision in corporate profits to 8.7% from 5.9% in the second estimate.
