Quarterly Real U.S. GDP Growth
First quarter Gross Domestic Product, released on April 26, rose 3.2% versus estimates that averaged approximately 2.5%. The higher-than-expected increase was fueled by increases in consumer spending, inventory builds, export activity, and government spending. Housing was a negative influence, as were imports.
Year-over-Year Change in CPI
The U.S. inflation rate, as measured by the Consumer Price Index, rose 1.9% in March 2019. This marks a turn from a downtrend that began in July 2018 and was slightly above the consensus level of 1.8%. Taking out volatile components such as food and energy, core inflation came in at 2%, slightly below estimates of 2.1%. Fed policy remains at a 2% target.
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