Final Gross Domestic Product for 1Q was revised from the advance annualized rate of 0.9% to 1.0%, matching forecasts. Personal consumption increased from the advance rate of 1.0% to 1.1%, just above the estimate of 1.0%. The core PCE Price Index increased from 2.1% to 2.3%, ahead of the estimate of 2.1%. More from Bloomberg...
Existing home sales rose 2.0% in May to an annualized rate of 4.99 million units, above the forecast of a 1.2% increase to 4.95 million units. The inventory of unsold homes fell from 11.2 months to 10.8 months. Details from Bloomberg...
