How did the US Q1 GDP growth compare to market expectations?

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US First-Quarter GDP Growth Exceeded Market Expectations

The United States recorded a better-than-expected gross domestic product (GDP) growth of 2.1 per cent in the first quarter. This figure surpassed the consensus forecast of 1.6 per cent, indicating a stronger economic performance than anticipated by the market.
First-Quarter GDP Performance

In the first quarter, the US economy expanded at a pace of 2.1 per cent. This growth rate was notably higher than the 1.6 per cent projected by market analysts, suggesting a more robust economic environment.
Personal Consumption Expenditures Inflation

Alongside the GDP figures, the personal consumption expenditures (PCE) inflation rate for May was reported at 4.1 per cent. This inflation rate was in line with market expectations, providing a consistent view of price pressures within the economy.
Impact on US Dollar Index

Following the release of the PCE data, the US Dollar Index (DXY) experienced a decline of 0.18 per cent, settling at 101.431 points. This movement was attributed, in part, to the indication of anaemic growth in consumer spending, as suggested by two consecutive quarters of sub-one per cent growth in this area.

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How did the US Q1 GDP growth compare to market expectations?

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