46 days ago • Posted by Ajmir Omid

#Stocks pare gains after US #GDP #PCE  #trading

Real GDP in the United States fell by 1.6% at an annualized rate over the first three months of the year (vs 1.5% estimates). Softer household consumption expenditure was a big drag. Moreover, the price index PCE rose 7.1%, compared to an increase of 6.4% in the previous quarter. Excluding food and energy prices, the index rose 5.2%, compared to a 5% rise in the last quarter of 2021. Although this is backwards-looking data, it is still closely watched as it confirms the ongoing pressure on prices.