Jan-Mar 2016 2nd Preliminary GDP Estimate
Real GDP growth rate revised upwards slightly from 1st preliminary;results in accordance with market consensus
June 08, 2016
Summary
◆The real GDP growth rate for Jan-Mar 2016 (2nd preliminary est) was revised upwards slightly to +1.9% q/q annualized (+0.5% q/q) in comparison to the 1st preliminary report (+1.7% q/q annualized and +0.4% q/q). Results were in accordance with market consensus (+1.9% q/q annualized and +0.5% q/q). Results brought only a small upward revision, but were in accordance with market consensus and hence no surprise.
◆Performance by demand component in comparison to the 1st preliminary results shows inventory investment and public investment revised downwards, while personal consumption was revised upwards, helping to bring up overall results. As a result of corporate statistics, capex was revised upwards to -0.7% q/q (-1.4% on the 1st preliminary). Inventory investment was revised downwards slightly to -0.1%pt q/q in comparison to the 1st preliminary report (-0.0%pt) in accordance with market consensus (-0.1%pt).
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