Sharp slowdown in US GDP: + 0,5%

In the first quarter of 2016 the US GDP grew at an annualized pace "only" 0.5%. It's what emerges from the first reading of the data released by the US Commerce Department. The result is lower than the expectations of analysts who expected an improvement of 0.7% in the first three months of this year.

The economy of the United States, therefore, begins to slow down after the 1.4% achieved in the last quarter of 2015. The one recorded in the months January-March is the slower pace of expansion for two years.

Futures on US indices are moving down, announcing an opening in fall for the main lists of Wall Street. The GDP figure comes after the Federal Reserve meeting that, as expected, has left interest rates unchanged.

In the same context it should be noted the increase in applications for unemployment benefits over the past week. As reported by the Department of Labour, in the week ended April 23, initial claims for unemployment benefits rose by 9,000 to 257,000, in line with expectations. The figure amounted on average to below 300,000 by 60 weeks, the best series since 1973.