Growth data, one of the important data of this week in the USA, has been announced.
In the second quarter of the year, US Gross Domestic Product (GDP) data was announced as 2.1%. (Expected: 2.4%)
Here is Bitcoin's initial reaction to the data:
U.S. GDP data is defined as a measure of the total value of goods and services produced by the United States over a given time period. It constitutes one of the most important indicators of the country's economic performance and prosperity.
A higher-than-expected data is interpreted as good for the US dollar, while a lower-than-expected data is interpreted as bad for the US dollar.
The data is released quarterly by the BEA, which is part of the U.S. Department of Commerce. BEA uses a variety of data sources, such as surveys, administrative records, and market prices, to estimate GDP and its components.
*This is not investment advice.
