The first quarter 2017 U.S. Gross Domestic Product (GDP) reported the slowest growth in three years, expanding at an annualized rate of 0.7% vs. 2.1% in the final quarter of 2016.
Further GDP figures were released across Europe with the U.K. slowing its growth pace more than expected at a 0.3% expansion, Spain gaining momentum at 0.8% growth, France registering 0.3% growth and Austria 0.5% growth. The ECB and BOJ held policy meetings this week with both central banks leaving policy rates unchanged, as expected.
The domestic administration continues to push for changes, announcing its preliminary tax cut plans and meeting with NAFTA leaders on expectation to revise terms of the treaty.
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