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High interest rates curb demand for home buyers The number of home purchase contracts signed in the US in April recorded the biggest drop in three years
The number of home purchase contracts signed in the US in April showed the biggest drop in three years, a new low since February 2021
The US GDP growth rate in the first quarter was lower than the initial value. Consumption and inflation indicators were revised down
The growth rate of the US economy in the first quarter was lower than the initial value, mainly reflecting that consumer spending was weaker than expected. According to data from the US Bureau of Economic Analysis on Thursday, GDP for the first three months of this year was equivalent to an annual growth rate of 1.3%, which is lower than the initial value of 1.6%. Personal spending, which is the main engine of the economy, increased by 2.0%, and the initial value was an increase of 2.5%. These data highlight the decline in economic momentum at the beginning of 2024 after continuous unexpected growth in 2023. High interest rates, reduced savings accumulated during the pandemic, and slowing income growth are some of the key factors affecting American households and businesses. The decline in consumer spending growth is mainly due to commodities
Consumer spending is fatigued, and the US GDP growth rate in the first quarter was revised to 1.3%
The growth rate of the US economy in the first quarter was lower than initially announced, reflecting lower consumer spending than expected.
US Real GDP Expands 1.3% in First Quarter Vs. 1.6% in First Estimate
The BEA revised Q1 US GDP growth lower to 1.3%.
US Dollar Holds Gains Following Another Increase in Treasury Yields
The US Dollar trades substantially stronger against most major G20 peers
Support to Dollar From Higher Treasury Yields Could Prove Short-Lived -- Market Talk
Support to the dollar from a recent rise in U.S. Treasury yields after weaker demand at Treasury auctions could prove short-lived, Chris Turner, global head of markets at ING, says in a note.