The second-estimate is likely to show that first-quarter GDP actually contracted by 0.7% annualised, whereas the initial estimate showed a 0.2% gain (13.30 BST). Q1 was hit by the record cold winter in the Northeast and a big contraction in mining investment, however, with seasonal quirks possibly playing a role too. In a repeat of what happened last year, Capital Economics anticipates a big rebound in GDP over the remaining three quarters of this year, starting with a 2.5% to 3.0% gain in Q2.
The material has been provided by InstaForex Company – www.instaforex.com