US economic growth rose a modest 1.3% in the first quarter, a softer increase vs. the government’s initial 1.6% estimate. The revised data reflects a sluggish pace of growth and the second straight quarterly downshift. But the current nowcast for Q2 suggests that output will stabilize if not strengthen, based on the median for a set of estimates compiled by CapitalSpectator.com.
Daily Archives: May 31, 2024
Macro Briefing: 31 May 2024
* Opec set to meet amid cartel’s limited influence on oil market
* Senate Democrats call for Big-Oil probe over price fixing
* AI-related data centers may use 9% of US electric supply by 2030, study finds
* Pending home sales in US slump to lowest level since pandemic’s start
* US jobless claims edged up last week but remain low
* US Q1 GDP growth revised down a sluggish 1.3%:
