The U.S. released the second GDP estimate for the first quarter of 2011, where GDP expanded by 1.8% unchanged from the prior estimate and worse than median estimates of 2.2%, while personal consumption rose by 2.2% below the prior rise of 2.7% and below median estimates of 2.8%.

The GDP price index rose in the first quarter by 1.9% in line with the prior and expected estimates, while core PCE rose by 1.4% in the first quarter below the prior and expected estimates of 1.5%.