Read the highlights of this week’s commentary from Helios:
- The economy grew at a 1.1% annualized rate in the first quarter, behind expectations of a 1.9% growth rate and slower than Q4’s 2.6%. Despite concerns around the consumer, consumer spending grew 3.7%, a surge from Q4’s 1.0%, and added 2.5 percentage points to the headline number, offsetting weaknesses in other categories. Overall, a gradual slowdown in economic activity is likely good news for the Fed as they head into their next policy meeting this week.
- Across the Atlantic, the eurozone economy resumed growing, if only barely, with the economy growing 0.1% as German growth was behind estimates.
- Personal income rose 0.3% in March while personal spending was flat.
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