STATEMENT: First-quarter GDP in line with expectations, credit unions poised to support members no matter what

"First quarter GDP was in line with expectations, as a surge in business investment offset a sizable drag from trade. Consumption was relatively weak across the quarter, but most of that was concentrated in January when severe winter weather kept consumers home. The PCE index—the Federal Reserve’s preferred inflation measure—rose to its highest level in nearly three years. Economic growth is trending steadily upward as the AI boom is proving to be strong and durable enough to compensate for other areas of weakness, but inflation shows no signs of moderating. Credit unions remain focused on addressing their members’ affordability concerns by offering low-cost financial services."
​- America's Credit Unions Chief Economist Curt Long

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