The American giant slows down its growth, but no more than expected. US gross domestic product increased by 1,9% in the first quarter of 2012. This was confirmed by the second review by the Commerce Department, in line with economists' expectations. However, the initial estimate was +2,2 percent and the downward revision was confirmed today. In the last quarter of 2011, the US economy had grown by 3%.
Household spending, which accounts for 70% of US assets, rose 2,5% in the first three months of 2012, less than the first estimate of 2,7%. And there are signs of a further slowdown in April and May with a drop in retail sales.
However, corporate profits climbed 10,1 percent after a decrease of 0,5 percent recorded in the last three months of 2011. Finally, the price index of products for personal use recorded an increase of 2,6 percent, two tenths more than the preliminary estimate.
Le exports increased by 4,2% (against 7,2% previously estimated) e imports by 3,4% (against the previous 6,1%).
The forecast for the second quarter provide for a GDP increase around 2%, with global demand cooling due to the European debt crisis.
Wall Street opens its session today in positive territory: the S&P 500 gains 0,90%, the Dow Jones and the Nasdaq 0,74%.
