US: Q1 GDP contracts at an annualised pace of 1.5% versus the 1.3% expected pace of contraction

According to a second estimate by the US Bureau of Economic Analysis, the annualised pace of real GDP growth in Q1 2022 came in at -1.5%, below the first estimate of -1.4% and the market's expectation for a growth rate of -1.3%, data on Thursday showed.