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U.S. Q1 revised GDP rises less-than-expected

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Forex Pros - Gross domestic product in the U.S. rose less-than-expected in the first quarter, revised data showed on Thursday.

In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 1.8%, unchanged from a preliminary estimate.

Analysts had expected U.S. gross domestic product to rise 2.2% in the first quarter.

The GDP price index rose broadly in line with expectations, climbing 1.9%, unchanged from the preliminary forecast.

Following the release of the data the U.S. dollar was down against the euro, with EUR/USD jumping 0.71% to hit 1.4188.

Meanwhile, U.S. stock index futures erased gains following the data. The Dow Jones Industrial Average futures pointed to a decline of 0.04%, S&P 500 futures indicated a drop of 0.05%, while the Nasdaq 100 futures shed 0.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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