Fiper | Prelim GDP q/q

Gross domestic product is the broadest measure of economic activity and a key indicator of an economy's health
Annual percentage change (4X quarterly change) in GDP shows and indicates economic growth as a whole
Consumption makes up the largest part of the gross domestic product in the United States of America and has the greatest impact on it. Also, the numbers can be very volatile from quarter to quarter.
The US economy expanded at an annual rate of 2.9% on a quarterly basis in the fourth quarter of 2022, after a jump of 3.2% in the third quarter and exceeding expectations of 2.6%. Consumer spending rose 2.1%, below the 2.3% increase in the third quarter and expectations for a 2.5% increase. Spending on goods jumped 1.1% led by automobiles and parts and spending on services slowed (2.6% vs 3.7%), with health care, housing, utilities and personal care services leading the rise. Meanwhile, private inventories added 1.46 percentage points to growth, after declines in the previous two quarters, led by petroleum, coal products, chemicals and utilities. On the other hand, the contribution of net trade decreased (0.56 points against 2.86 points in the third quarter), as exports decreased by 1.3% led by non-durable goods and imports decreased by 4.6%. Also, fixed investment fell faster (-6.7% vs -3.5%), led by equipment (-3.7% vs 10.6%). Residential investment continued to contract (-26.7% vs -27.1%), led by new single-family construction and brokers' commissions. Taking into account all of 2022, GDP expanded by 2.1%

Outlook for today's statement and how it will affect the currency

The forecast for today's reading is 2.9%.
A higher-than-expected reading indicates growth in the economy and was positively affected by the US dollar, while a lower-than-expected reading indicates a decline in economic growth and was negatively affected by the US dollar