The US economy grew at a slower pace of 1.6% in the first quarter of 2024, according to the latest GDP report. This slowdown was driven by a decrease in business investment and a decline in exports. However, the Personal Consumption Expenditure (PCE) inflation component came in hotter than expected, with a year-over-year increase of 5.3%. This unexpected inflation data has raised concerns among investors and economists. The sentiment towards GDP growth has been mixed, with some positive readings and some negative readings. The sentiment towards inflation expectations has been consistently negative, indicating that investors and analysts are concerned about the potential for higher inflation in the coming months. The sentiment towards the war in the Middle East has been volatile, with some negative readings due to escalating tensions and positive readings due to positive developments. Here is a breakdown of the sentiment scores for each topic:
– GDP growth sentiment: The sentiment towards GDP growth has ranged from -0.32 to 0.50, with an average sentiment score of 0.08.
– Inflation expectations sentiment: The sentiment towards inflation expectations has ranged from -0.075 to 0.50, with an average sentiment score of -0.03.
– War in Middle East sentiment: The sentiment towards the war in the Middle East has ranged from -0.10 to 0.18, with an average sentiment score of 0.05.
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