Preliminary report on the US GDP for the first quarter. TODAY!
Dear traders,
Today, investors will also be interested in the preliminary value of the US GDP for the first quarter, which will be published at 3:30 pm (Kyiv). This value will allow to assess whether the world’s largest economy is strong enough to withstand several interest rate hikes in the coming months.
Analysts predict that, on an annual basis, the US economic growth will slow from 2.9% to 2.0% as a result of a sharp drop in consumer spending compared to the previous quarter.
Despite the projected slowdown, this report is unlikely to change the plans of Fed officials, given the expected growth in the economy in the coming months due to the tax cuts implemented by the Trump administration.
Most economists predict that the Fed will raise the interest rate in June, its next increase will take place in September, and the third – in December. (Investing.com)
Have good profits, Gentlemen!
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