Blue Chip Forecasts Tick Up; Final 1Q-23 GDP Estimate Rose Again; PCE Inflation Moderated More In May

Real gross domestic product in the US rose 2% on an annual basis 1Q-23, according to the Bureau of Economic Analysis’ third and final estimate. That’s a substantial increase from the 1.3% second estimate. In comparison, real GDP grew 2.6% 4Q-22. The BEA said the increase “primarily reflected upward revisions to exports and consumer spending…