GDP is slightly lower than the consensus estimate
US GDP (Gross Domestic Product) rose 6.4% in the first quarter of 2021, the U.S. Economic Analysis Office said Thursday.
This figure is a percentage point below the market expectations of 6.5%.
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Looking into the future, economists propose an estimate of 8.2% GDP growth in the second quarter of the year.
The S&P 500 increased by 0.3%, while the Nasdaq composite was stable. Down Jones Industrial Average rose 0.7%
The wider stock market has been steadily increasing this week as the Federal Reserve suggested that discussions could soon begin about changing its asset purchase rates in the near future.
Commenting on US GDP and unemployed people due to the declining pandemic, Ali Jaffari, head of North American capital markets for ValidUS Risk Management, said: Employment data remains an important focus for the Fed, and the continued convergence to pre-pandemic levels will certainly drive the way forward-thinking debate. ”
“Jobless’s claims are trending down in print, and this week’s figures show a low pandemic. As the US economy progresses with vaccination programs and reopening measures, employment and workforce participation. is expected to be featured in the coming months. The US Treasury Department has declined in releases, but stock futures remain bound by scope.”
“Looking ahead, this GDP and Jobless claim may not be sufficient to change the Fed’s thinking, but the ongoing trend will certainly be to begin consultations on reducing the pace of asset purchases. “It will put pressure on the Fed.”
