Headlines discussed at LNWM’s Monday morning briefing.

— U.S. GDP rose a disappointing 0.2% in the first quarter on weak consumer and businesses spending.

— The U.S. Fed lowered its 2015 U.S. economic growth outlook due to weakening economic trends.

— Japanese consumer spending fell sharply in March for the 12th consecutive month.

— Consumer prices were flat in the Eurozone in April, following four months of declines.

— The profits of Russian energy giant Gazprom sank 86% due to lower energy prices and a weak currency.

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