GDP is not the number to worry about, PCE is: Strategist
US GDP showed 1.6% growth for the first quarter, the lowest growth in 2 years. In response, US equities (^GSPC, ^DJI, ^IXIC) fell on the news, is this the number to truly be worried about? eToro Global Markets Strategist Ben Laidler joins Wealth! to give insight into what the GDP print means for investors' portfolios. Laidler remarks: "This GDP number is not great but it's not as bad as it looks. The bits we care about, business investment and the consumer are absolutely fine. This weakness was all about the things that we don't really care about and will probably bounce back next quarter, which is trade and which is inventories.Yes, I am a little bit spooked by the inflation number, but just hold that for 24 hours because tomorrow we're going to get the monthly PCE number, which will give us a lot more information as to how much we should really worry about this today. " For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
