First Quarter GDP showed to be on 1.8% annualized pace; this comes after a 3.1% 4th quarter last year. The expectation for the first quarter was a median projection of 2.0%. Obviously, this is was a disappointing number.
| Prior | Consensus | Consensus Range | Actual | |
| Real GDP – Q/Q change – SAAR | 3.1 % | 2.0 % | 1.5 % to 3.0 % | 1.8 % |
| GDP price index – Q/Q change – SAAR | 0.4 % | 2.2 % | 1.5 % to 2.5 % | 1.9 % |
Economy-wide inflation rose _ 0.4 percent in the fourth quarter; this is fairly modest considering analysts had predicted a 2.2% increase.. Year-on-year, real GDP in the first quarter is up 2.3 percent. Economy-wide inflation picked up with the GDP price index jumping 1.9 percent from a modest 0.4 percent rise in the fourth quarter. Analysts had forecast 2.2 percent.