Daily Update (Source: RBC Financial Group
US Q1/16 GDP growth revised marginally higher
May 27, 2016
- Despite the upward revision, the first-quarter 2016 increase still represented a slowing from the already modest 1.4% increase recorded in the fourth quarter of 2015.
- Market expectations had been for a marginally stronger 0.9% increase.
- The upward revision to growth largely reflected greater contributions to growth of 0.1 percentage points from three main areas: net exports, residential investment, and inventories.
- Some offset was provided by marginally weaker business investment.
Despite the upward revision, growth in the first quarter of 2016 remained disappointingly below the economy’s long-run potential or average rate. The quarter indicated
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