The US economy slows down.
GDP
grew by 1.1% in the first quarter, below the expectations of analysts who bet on +1.9%
.
In the last three months of 2022, the economy had grown by 2.6%.
Meanwhile, US jobless claims fell by 16,000 to 230,000 last week.
Analysts were betting on 240,000.
"The US economy remains solid as it moves toward stable growth. Personal income increased in the last quarter and consumers continued to spend, even as the growth rate slowed."
Joe Biden
says so
commenting on the US GDP data for the first quarter which showed a slowdown to +1.1%.
“My agenda is rebuilding the American economy from the ground up. By investing in manufacturing and rebuilding our supply chains, we are creating jobs that pay well, we have reduced energy and internet costs, making sure no one is left behind. These policies have helped the economy create a record 12.5 million jobs over the past two years, and nearly 800,000 manufacturing jobs," the president noted.
After the US GDP has slowed down and in view of the start of Wall Street where futures are rising, the
European stock exchanges
continue to be positive.
On the currency front, the euro weakens to 1.1032 against the dollar.
The Stoxx 600 regional index gains 0.2%.
Up Paris (+0.4%), Madrid (+0.3%), Frankfurt (+0.2%) and Milan (+0.1%).
London moved little (-0.01%).
Lists are supported by the luxury sector (+1.4%) and by cars (+0.8%).
Banks are also advancing (+0.9%) while insurance companies are declining.
The spread between the BTP and the Bund stood at 188 points, with the yield on the Italian 10-year bond rising to 4.3%.
