Real gross domestic product (GDP) in the United States is expected to grow 6%, compared to 6.2% on April 7, in the first quarter of 2021, the latest report showed on Friday GDPNow from the Federal Reserve Bank of Atlanta.
“Following this morning’s wholesale trade release from the US Census Bureau and this morning’s report on producer prices from the US Bureau of Labor Statistics, the current forecast for the contribution of the Inventory investment to first quarter real GDP growth decreased from -0.90% to 1.04%, “explained the Atlanta Fed.
Market reaction
This report was largely ignored by market participants and the US Dollar Index was last seen posting modest daily gains at 92.17.
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