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Ab at Bloomberg.com. This is Bloomberg surveillance. Good morning.

it is 830 on Wall Street.

I'm Michael McKee along with David Gura.

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A lot of numbers out this morning, initial jobless claims

$257,000 that's down 11th that that is up by 9,000 rather from the revised

248,000 rather from the revised 248,000 last week but still near historic lows.

Big number of the day, GDP comes in at half a percent annualized for the first quarter that's a little bit lower than

the consensus forecast for a seven-tenths gain.

Remember, this number is revised quite often, so we will probably see that number change over the next two months.

Personal consumption is part of GDP stronger than forecast, 1.9 percent, the forecast was

for 1.9 percent. The forecast was for 1.7 percent. Looking at prices, the quarterly

PCE GDP number up by 7 tenths of a percent which puts a year over year quarter on quarter number at 2.1 percent.

So a move up in a significant move up in inflation, but that's on a quarterly basis tomorrow we get the month over month

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