US GDP for 1Q 2020
The US advanced GDP data for the 1Q came in at +4.8% initially but the headlines were then corrected to read -4.8% vs -4.0% estimate.
- Personal consumption fell -7.6% vs -3.6% estimate
- Core PCE rose 1.8% vs 1.7% estimate
- GDP price index rose 1.3% vs 1.0% estimate
The data signals the start of the recession. The worst is yet to come as GDP is expected to plunge in the 2Q