Tomorrow afternoon at 1:30 pm London the Bureau of Economic Analysis ACFX publishes its latest Preliminary GDP report.
This report measures the annualized increase or decrease of all production which includes services that the US economy producers.
This report is produced on a quarterly basis and is released some 60 days after the quarter ends.
GDP data is released in three different versions being the Preliminary, Final and Advance GDP numbers. Of the three data sets the Advanced GDP is the most followed as it is the earliest release and therefore usually has the greatest effect.
GDP data is an important measure of countries economic wellbeing as the productive activity. Expanding or contraction productivity can be used as an early barometer which measures expanding or contracting economic activity.
Recent Preliminary GDP data has been mixed over the last three quarterly reporting periods.
The prior GDP release showed indicated an expansion of 2.3% with the market consensus expecting an increase of 3.2%.
In general a GDP release that is greater than the forecast should lead to an appreciation of the US Dollar. http://www.acfx.net/preliminary-usa-quarterly-gdp