US Department of Commerce has published statistical data on GDP for the first quarter of 2016. American economy has shown positive dynamics and increased on annual basis by 0.8%. However, it is also worth mentioning that according to reconsidered statistical data, growth was been minimal.
Growth of Consumer Expenditures Met its Preliminary Assessment
Analysts participating in an enquiry held by Bloomberg agency were predicting US GDP to rise by 0.9% in the first quarter, whereas its preliminary assessment expected 0.5% rise. Let us remind that growth of GDP in the USA during the fourth quarter of 2015 has amounted to 1.4%.
Growth of consumer expenditures (70% of US GDP) for January-March 2016 has amounted to 1.9% against 2.4% increase for October-December 2015. It is worth mentioning that the growth rate has met its preliminary assessment whereas analysts predicted the expenditures to increase to 2.1%.
PCE Core Index Speeds up
Positive dynamics has also been shown by PCE Core index, which in its turn is considered by US FRS when assessing inflation risks. Its growth for the first quarter of 2016 has amounted to 2.1%, whereas in the forth quarter of 2015 the index increased by 1.3%.
Growth of Salary Goes Beyond Preliminary Assessment
Salary of American citizens for the first quarter of this year has risen by 125.5 bln. dollars, which in its turn is a rather considerable quarterly growth for almost two years. Let us remind the factor was previously expected to increase by 81.7 bln. dollars.
Expenditures of governmental sector for the last quarter have risen by 1.2% on an annual basis. Statistical data on export and import have shown reduction by 2% and 0.2% accordingly. US private sector investment for the first quarter of this year has also shown negative dynamics and reduced by 2.6% on an annual basis.
“As of May 30 the exchange rate of US dollar continues its growth and, having broken an important level of resistance - line of internal sloping channel MF - is traded at 95.73,” explain experts of Masterforex-V Trading System . Next important resistance is provided by line of external sloping channel MF and pivot MF 98.40. The down-trend will continue only when local minimum 91.88 is broken.
