Forex News – US 1st quarter revision negative but it looks in the rear-view mirror
Posted on May 29, 2014 at 2:09 pm GMTThe news that the US economy contracted by a 1% annualized rate during the first quarter was negative but it had little influence on financial markets. The estimate compared to a 0.5% contraction expected by economists while the initial estimate was an expansion of 0.1%. It was the worst growth performance for the US economy since the first quarter of 2011. There were some special one-off factors that drove growth to such a low level during the first quarter and the US [..]