Investing.com – Gross domestic product in the U.S. rose slightly more-than-expected in the first quarter, preliminary official data showed on Thursday.
In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 1.8%, compared to 3.1% in the preceding quarter.
Analysts had expected U.S. gross domestic product to rise 1.7% in the first quarter.
The GDP price index rose less-than-expected in the first quarter, increasing 1.9% after rising a revised 0.4% in the preceding quarter, disappointing expectations for a 2.3% gain.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.17% to hit 1.4814.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a drop of 0.25%, S&P 500 futures indicated a loss of 0.32%, while the Nasdaq 100 futures fell 0.3%.
In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 1.8%, compared to 3.1% in the preceding quarter.
Analysts had expected U.S. gross domestic product to rise 1.7% in the first quarter.
The GDP price index rose less-than-expected in the first quarter, increasing 1.9% after rising a revised 0.4% in the preceding quarter, disappointing expectations for a 2.3% gain.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.17% to hit 1.4814.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a drop of 0.25%, S&P 500 futures indicated a loss of 0.32%, while the Nasdaq 100 futures fell 0.3%.