Q1 GDP was revised down to -5.0% vs -4.8%...>

US DATA: Q1 GDP was revised down to -5.0% vs -4.8% in advance estimate. 

-Final Sales -3.7% (Adv -4.3%)

-Prelim Corp Profits w/CCadj -8.5% Q/Q Vs 4Q -13.9%

-Change In Private Inventories -$67.2B Vs Adv -$16.3B

-Export Gap -$816.0B (Adv -$817.4B); Imports-15.5% (-15.3%)

-PCE -6.8% Vs Adv -7.6%; Govt +0.8% Vs Adv +0.7%

-Chain Weighted Price Index +1.4% Vs Adv +1.3%

-GDP Core PCE Deflator +1.6% Vs Adv +1.8%

-------------------------------------------------------------

* Downward revision in private inventories partly offset by upward revisions in

consumer spending to -6.8% vs -7.6% and nonresidential fixed investment to -7.9%

vs advance -8.6%. 

* Within PCE, health care services were revised higher, as well as food and

beverage.

* Within private inventories, nondurable goods manufacturing and wholesale trade

inventories (led by petroleum products) were revised down.