24 Dec 2015
US Q4 GDP projections - Nomura
FXStreet (Guatemala) - Analysts at Nomura rounded up the recent US data and offered a Q4 GDP tracking update.
Key Quotes:
"Personal spending came in above our expectations for November but the prior month was revised down, which was neutral for growth. But core shipments came in slightly weaker than our expectations, and durable goods inventories declined more than we had anticipated, implying more drag from an inventory drawdown."
"Taking all this into account, we revised down our Q4 GDP tracking estimate to 1.4% from 1.5%, previously. Preview Initial jobless claims: The trend in jobless claims continues to signal limited layoffs and steady labor market conditions. Consensus expects 270k claims in the week ending 19 December."
Key Quotes:
"Personal spending came in above our expectations for November but the prior month was revised down, which was neutral for growth. But core shipments came in slightly weaker than our expectations, and durable goods inventories declined more than we had anticipated, implying more drag from an inventory drawdown."
"Taking all this into account, we revised down our Q4 GDP tracking estimate to 1.4% from 1.5%, previously. Preview Initial jobless claims: The trend in jobless claims continues to signal limited layoffs and steady labor market conditions. Consensus expects 270k claims in the week ending 19 December."