FXstreet.com (Barcelona) - Gross Domestic Product has increased in the first three months of the year at the same pace as in the previous quarter, while the Gross Domestic Purchase4s prices index has eased in the same period, according to data released by the US Commerce Department.
US real GDP, the the output of goods and services produced by labor and property located in the United States, has increased by 0.6% from January to March,as widely expected by the analysts, reflecting positive input from personal consumption expenditures (PCE) for services, private inventory investment, exports of goods and services, and federal government spending, while residential fixed investment and PCE for durable goods contributed negatively. Another negative contribution was the increase of imports.
The price index for gross domestic purchases, prices paid by US residents, has risen 3.5% in the first quarter, down from the 3.7% increase posted in the previous quarter. Excluding food and energy prices, the GDP prices index rose 2.2%, down from 2.3 in the fourth quarter.