He United States Gross Domestic Product (GDP) has grown by 1.6% in the preliminary reading for the first quarter of 2024, well below the 3.4% growth of the last three months of 2023, as published by the Department of Commerce. The figure disappoints market expectations, as an increase of 2.5% was expected. If this result is confirmed, the US economy will have recorded its lowest growth rate since the second quarter of 2022.
The GDP price index has risen 3.1% in the first quarter of the year, up from 1.7% previously.
On the other hand, the US has published its preliminary goods trade balance of March. The indicator has widened its deficit to -91.8B dollars from -91.4B in February, worsening the -91.2B expected by experts. This is the largest deficit recorded by the indicator in eleven months, since April 2023.
dollar reaction
The Dollar Index (DXY) has risen after the publication from 105.55 points to 105.86, its daily high.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
