US initial jobless claims rose 10k to 227k in the week ending June 22, above expectation of 220k. Four-week moving average of initial claims rose 2.25k to 221.25k. Continuing claims rose 22k to 1.688m in the week ending June 15. Four-week moving average of continuing claims rose 6.5k to 1.687m.
Q1 GDP growth was finalized at 3.1% annualized, unrevised. .Upward revisions to nonresidential fixed investment, exports, state and local government spending, and residential fixed investment were offset by downward revisions to personal consumption expenditures (PCE) and inventory investment and an upward revision to imports.
