US GDP expanded at an annual rate of  in the first quarter, the Commerce Department said in its advance estimate today.

The reading follows a 2.4% pace in the fourth quarter of 2024 and a median forecast of 0.4 percent. BEA’s estimate will be revised on May 29 and June 26.

Trading Economics forecasted 0.5% growth while the general consensus is 0.3%.

Before the release, Bitcoin, oil, and equities dipped slightly while gold ticked up.

As the data was released, Bitcoin fell 0.3% on the news, with S&P 500 futures falling 0.33% and US 10-year Treasury yields rising 0.27%.

Real-time trackers diverged ahead of the release: the Atlanta Fed’s GDPNow model pointed to -2.7% as of April 29, while the New York Fed’s Staff Nowcast stood at 2.6 percent. Consensus has shifted repeatedly as soft manufacturing data offset firmer housing and services prints.

The post US GDP for Q1 2025 falls by 0.3% creating stagflation worries as Bitcoin trades flat on news appeared first on CryptoSlate.

US GDP expanded at an annual rate of  in the first quarter, the Commerce Department said in its advance estimate today.

The reading follows a 2.4% pace in the fourth quarter of 2024 and a median forecast of 0.4 percent. BEA’s estimate will be revised on May 29 and June 26.

Trading Economics forecasted 0.5% growth while the general consensus is 0.3%.

Before the release, Bitcoin, oil, and equities dipped slightly while gold ticked up.

As the data was released, Bitcoin fell 0.3% on the news, with S&P 500 futures falling 0.33% and US 10-year Treasury yields rising 0.27%.

Real-time trackers diverged ahead of the release: the Atlanta Fed’s GDPNow model pointed to -2.7% as of April 29, while the New York Fed’s Staff Nowcast stood at 2.6 percent. Consensus has shifted repeatedly as soft manufacturing data offset firmer housing and services prints.

The post US GDP for Q1 2025 falls by 0.3% creating stagflation worries as Bitcoin trades flat on news appeared first on CryptoSlate.