Q4 2017 US GDP advance reading 26 January 2018

  • Q3 GDP 3.2%.
  • Sales advance 3.2% vs 3.2% exp. Prior 2.4%
  • Consumer spending 3.8% vs 2.2% prior
  • PCE 2.8% vs 1.8% exp. Prior 1.5%
  • Core PCE 1.9% vs 1.6% exp. Prior 1.3%

The soft headline will catch the attention but there’s a very good jump in spending and PCE is up massively. On the whole, it’s not that bad a report.

Between this and the Durable’s there’s no real reason to see the dollar fall but whether it wants to rally is another question.


Ryan Littlestone

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