02:46 PM EDT, 06/26/2025 (MT Newswires) -- The third estimate of Q1 GDP showed a 0.5% decline, a downward revision from a 0.2% drop in the previous estimate, with consumption revised lower.

There were upward revisions to net exports and government spending, but downward revisions to residential fixed investment and private inventories. Nonresidential fixed investment was unrevised.

The GDP price index was revised up to a 3.8% gain from 3.7% in the advance estimate, with the PCE price index and core PCE price index adjusted upward from their previous estimates.

The advance goods trade deficit widened to $96.59 billion in May from $86.97 billion in April, reflecting a decline in exports and no change in imports. The full trade report is scheduled to be released on July 3.

Advance wholesale inventories fell by 0.3% while advance retail inventories increased by 0.3%. Wholesale inventories will be updated on July 9, while retail inventories are eligible for revision on July 17.

Initial jobless claims decreased by 10,000 to 236,000 in week ended June 21, trimming the four-week moving average by 750 to 245,000.

Insured claims rose by 37,000 to 1.974 million in the employment survey week ended June 14, the highest level since the week ended Nov. 6, 2021. Insured claims were at a level of 1.893 million in the survey week ended May 10.

Durable goods new orders rose by 16.4% in May due to a 48.3% jump in transportation new orders, while shipments increased by 0.2%. Excluding transportation, new orders were up 0.5%, and shipments rose by 0.2%.

The National Association of Realtors' pending home sales index rose by 1.8% in May, well above expectations. NAR attributed the increase to wage and job gains. Pending sales were up 1.1% from a year earlier.

The NAR's existing-home sales data for June are scheduled for release on July 23.

The Chicago Federal Reserve's National Activity index rose to minus 0.28 in May from minus 0.36 in April. The three-month moving average fell to minus 0.16 from 0.06.

Natural gas stocks rose by 96 billion cubic feet to 2.898 trillion cubic feet in the week ended June 20, down 6.3% from a year earlier but 6.6% higher than the seasonal average for the current week over the previous five years.

The Kansas City Federal Reserve's manufacturing index rose to minus 2 in June from minus 3 in May. The ISM's national manufacturing reading will be released on July 1.