United States publish GDP data

Source: Dukascopy Bank SA


The United States Bureau of Economic Analysis has published the US quarterly Preliminary GDP data. GDP was expected to have increased by 1.1%. The actual number has been revealed to be 1.3%. The news strengthened the USD.

In the current macroeconomic environment positive GDP data indicates that the US Federal Reserve is set to continue to hike interest rates and strengthen the US Dollar. Namely, the Fed has room to increase rates to fight inflation.

The US GDP is published in three increments. After a quarter has ended, statisticians provide the first data set, which is called the Advance GDP. After a month, the data is more precise. The second release is called the Preliminary GDP. At the end of a quarter, the statisticians release the Final quarterly GDP numbers. Afterwards, the cycle starts over.
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