U.S. GDP for Q1 Shows Economy Growing at 1.9% Rate

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Economic Update: U.S. GDP

The government’s second revision to the nation’s GDP during the first quarter of 2012 shows the economy grew at a rate of +1.9% during the January-March period.

This was in line with the first revision but below the growth rate first reported of +2.2% )and also below the fourth quarter’s growth rate of +3.0%). Wall Street’s expectations had been for this report to come in at 1.9%

For reference purposes: Q4 2011: +3.0%, Q3: +1.8%, Q2: +1.3%, Q1: +0.4%, Q4 2010: +3.1%, Q3 +2.6%, Q2: +1.7% and Q1 2010 was +3.7%.

On the inflation front, the Price Deflator came in at +2.0% which was above the expectations for +1.7%.

Other stories on the US Economy to review:

• Durable Goods Up for First Time in 3 Mos
  
• Richmond Fed Index Declines for Third Month
  
• Consumer Confidence Falls Again in June
  
• Case-Shiller Home Price Index Improves
  
• Chicago Fed National Activity Index Falls in May
  
• Existing Homes Sales Fall But Prices Rises
  
• LEI Rises in May: Points to "Muddle Through"
  
• Philly Fed Plunges in June
  
• Flash PMI in US Shows Manufacturing Growth Slowing
  
• Housing Starts Down But Permits Up Strong
  
• UofM's Consumer Sentiment also Weak
  
• Industrial Production and Capacity Utilization Below Expectations
  
• Empire Manufacturing Disappoints in June
  
• CPI Declines in May
  
• Business Inventories Above Expectations in April
  
• Retail Sales Fall Across Board in May
  
• PPI Shows Inflation Fell at Producer Level in May
  
• NFIB Small Business Optimism Pulls Back
  
• ISM Non-Manufacturing Index Above Expectations
  
• Some Good News: Employment Trend Index Moves Up
  
• May Jobs Report Disappoints Big Time
  
• ISM Report Shows Growth Slowing

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