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POST » 27th June, 2019 » US Final Q1 GDP

The final reading of US first quarter growth, at first glance, paints a positive picture.  The quarterly pace of expansion came in at 3.1% ann. with y/y growth hitting 3.2%, the highest since Q1 2015.  But the structure shows clear evidence of the cross currents at work with an upward revision to the inventories build and a relatively better gain from net exports offsetting a moderation of domestic consumption growth.

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