1Q GDP Revised Higher

Preliminary 1Q Gross Domestic Product was revised higher from an annualized rate of 0.6% to 0.9%, in line with estimates. Personal consumption remained at 1.0%, matching forecasts. The GDP Price Index held at 2.6% as expected. The PCE Price Index was unchanged at 3.5%, and the core PCE Index, which excludes food and energy, was revised slightly lower from 2.2% to 2.1%. Details from Bloomberg...