Q1 GDP Prints At 1.8% Misses Consensus OF 2.0%, Plunges From 3.1% In Q4, Initial Claims Surge
- US GDP Price Index (Q1 A) Q/Q 1.9% vs. Exp. 2.3% (Prev. 0.4%)
- US PCE Core (Q1 A) Q/Q 1.5% vs. Exp. 1.4% (Prev. 0.4)
- US Personal Consumption (Q1 A) Q/Q 2.7% vs. Exp. 2.0% (Prev. 4.0%)
and the kicker:
- US Initial Jobless Claims (Apr 23) W/W 429K vs. Exp. 395K (Prev. 403K)
Nobody could have predicted the economic devastation (even as inflation surges). Nobody. And certain not the wise oracles at the Federal Reserve.