It's The Economy Stupid: GDP, Jobless Claims

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
GDP QoQ Annualized	1Q S	2.5%	2.4%	2.5%
Personal Consuption	1Q S	3.3%	3.4%	3.2%
GDP Price Index	1Q S	1.2%	1.1%	1.2%
Core PCE QoQ	1Q S	1.2%	1.3%	1.2%
Initial Jobless Claims	MAY 25	340K	354K	340K	344K
Continuing Claims	MAY 18	2955K	2986K	2912K	2923K

 

Okay, the Quarterly GDP was revised down to 2.4%, about where economists expected it to be revised to.  Personal Consumption was revised upward a little higher than economists expected.  GDP Price Index was revised downward.

 

Initial Jobless Claims came in higher than expected, and Continuing Claims came in much higher than expected.

 

All in all, these are slightly negative economic numbers.  But there are bright spots in there, so this is not doom and gloom, it’s more of a cloudy day.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Email:  jbroussard@treasusry.state.la.us