Q4 2017 US GDP 2nd estimate 28 February 2018

  • Prior 2.6%. Q3 3.2%
  • Sales 3.3% vs 3.1% exp. Prior 3.2%. Q3 2.4%
  • Consumer spending 3.8% vs 3.8% prior. Q3 2.2%
  • PCE 2.7% vs 2.8% exp. Prior 2.8%. Q3 1.5%
  • Core PCE 1.9% vs 1.9% exp. Prior 1.9%. Q3 1.3%
  • Deflator 2.3% vs 2.4% exp. Prior 2.4%
  • Exports 7.1% vs 6.9% prior
  • Imports 14.0% vs 13.9% prior

All very much in line so not much to trade on. Business investment dipped a touch to 65.6% from 6.8% in the flash, but investement in structures rose 2.5% vs 1.4% prior. A drop in business inventories cut 0.7 PP from GDP.

Ryan Littlestone
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