What was the US Q1 GDP growth, and did it meet expectations?

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US First-Quarter GDP Growth Exceeded Expectations

The United States reported a first-quarter gross domestic product (GDP) growth rate of 2.1 per cent, surpassing the anticipated consensus forecast of 1.6 per cent. This stronger-than-expected economic performance influenced currency markets.
US First-Quarter GDP Performance

The US economy expanded at a 2.1 per cent annualised rate in the first quarter. This figure was notably higher than the 1.6 per cent growth that market analysts had predicted.
Personal Consumption Expenditures (PCE) Inflation

In addition to 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.
Impact on US Dollar Index (DXY)

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 suggested that the rally in the US dollar might not be sustainable, particularly in light of other economic indicators.

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What was the US Q1 GDP growth, and did it meet expectations?

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