US economy grows 1.3% in first quarter vs. 1.6% in first estimate

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US economy grows 1.3% in first quarter vs. 1.6% in first estimate
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The US' real Gross Domestic Product expanded at an annual rate of 1.3% in the first quarter, the US Bureau of Economic Analysis' (BEA) second estimate on Thursday.

The BEA revised Q1 US GDP growth lower to 1.3%. US Dollar Index stays in negative territory below 105.00. The US' real Gross Domestic Product expanded at an annual rate of 1.3% in the first quarter, the US Bureau of Economic Analysis' second estimate on Thursday. This reading followed the 1.6% growth recorded in the first estimate and came in line with the market expectation.

3% Source: US Bureau of Economic Analysis Why it matters to traders? The US Bureau of Economic Analysis releases the Gross Domestic Product growth on an annualized basis for each quarter. After publishing the first estimate, the BEA revises the data two more times, with the third release representing the final reading. Usually, the first estimate is the main market mover and a positive surprise is seen as a USD-positive development while a disappointing print is likely to weigh on the greenback.

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