US: Annualized Real GDP grows by 6.4% (second estimate) in Q1 vs. 6.5% expected

• US economy grew by 6.4% on a yearly basis in the first quarter.
• US Dollar Index continues to move sideways near 90.00.

The United States' Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter of 2021, the US Bureau of Economic Analysis second estimate showed on Thursday. This reading matched the initial estimate and came in below the market expectation of 6.5%.

"Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment," the publication read. "Imports, which are a subtraction in the calculation of GDP, were revised up."

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen flat on the day at 90.02.