the final GDP Growth Rate showed the economy expanded by 2.1% in the January-March period.
According to the Commerce Department’s Bureau of Economic Analysis (BEA), the final GDP Growth Rate showed the economy expanded by 2.1% in the January-March period. The readings show a marked increase from the prior quarter’s 0.5% expansion.
The GDP Price Index (deflator) remained strong, rising by an annualised 3.6%, up from 3.5% gain. What do US GDP Growth Rate figures mean for the US Dollar? The US Dollar now comes under some mild downside pressure on Thursday, prompting the US Dollar Index (DXY) to abandon the area of recent tops and recede toward 101.50.
In the meantime, the Greenback continues to draw support from growing expectations that the Federal Reserve (Fed) could raise interest rates again later this year, particularly after policymakers delivered a hawkish hold at last week’s meeting. GDP FAQs A country’s Gross Domestic Product (GDP) measures the rate of growth of its economy over a given period of time, usually a quarter. The most reliable figures are those that compare GDP to the previous quarter e.g Q2 of 2023 vs Q1 of 2023, or to the same period in the previous year, e.g Q2 of 2023 vs Q2 of 2022.