US: GDP revised down, -0, 7% in the first triemstre – AGI – Agenzia Journalistic Italy

Economy

15:16 May 29, 2015

(AGI) – Washington, 29 May – The US economy is and ‘contracted by 0.7% in the first quarter. The figure for GDP in the second reading, and ‘was revised down from + 0.2% of the initial estimate. Analysts had expected a decline of 0.8%. The US GDP has greatly slowed its run, after + 2.2% in the fourth quarter and the + 5% in the third quarter of 2014. In the first quarter of 2015 the economy was affected by the stars and stripes of the cold climate of February and the closure of the west coast ports.
trade deficit and the accumulation of stocks, weighed on the downward revision of US GDP in the first quarter. The strong dollar weighed on the trade deficit to 1.9% of GDP instead of 1.25% previously estimated.
Even the profits before taxes of large companies fell by 8.7%. The value of wholesale inventories and ‘was revised down and passes 110.3000000000 to 95,000,000,000 dollars.
The accumulation of stocks it has therefore weighed 0.33% of GDP compared to 0.74% previously estimated. Consumer spending ‘was revised downwards from 1.9% to 1.8%. (AGI).

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