US Q1 GDP Revised Down, But Q2 Nowcasts See Firmer Growth Despite Soaring Trade Deficit
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#2bef6d19 ver:0.69

Despite a downward revision in Q1 GDP growth to 1.3%, Q2 nowcasts predict a stronger rebound with a median estimate of 2.0% growth. The weaker Q1 growth was due to a decrease in consumer spending, particularly in durable goods. The Atlanta Fed's GDPNow forecast for Q2 also decreased to 2.7% due to lower personal consumption expenditures and a larger trade deficit. However, the impact of interest rate hikes and weakening data raises concerns about a possible recession this year. #USGDP #EconomicRecovery #TradeDeficit #ConsumerSpending #RecessionConcerns...

#newstr #UsGdp #EconomicGrowth #ConsumerSpending #Inflation #JoblessClaims #JoeBiden #FederalReserve #UsTradeDeficit #AtlantaFed #GdpnowForecast 

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