The US Q1 2020 GDP data
- Second reading was -5.0%
- Q4 2019 reading was +2.1%
Details:
- Final sales -3.5% vs -3.7% prelim
- Consumer spending -6.8% vs -6.8% prelim
- GDP deflator +1.6% vs +1.6% prelim
- Core PCE +1.7% vs +1.6% exp
- Business investment -6.4% vs -7.9% prelim
- Corporate profits after tax -12.4% vs -14.2% prelim
Inventories cut 1.56 percentage points from GDP.
The market is looking towards Q3 now and it’s on track to be the worst quarter on record