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27 Mar 2015
US Q4 GDP expected to be revised higher – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team, previews today’s US data releases – US Q4 GDP revision, and University of Michigan's March consumer confidence numbers.
Key Quotes
“US Q4 GDP is expected to be revised slightly higher to 2.4% from 2.2%. Personal consumption, which may be more important for policy makers than the overall economic growth is expected to be revised to 4.4% from 4.2%. The softer consumption data in Q1 15 should be placed in that context.“
“In addition, the University of Michigan's final March consumer confidence figures will be reported. In addition to the headline, the inflation expectations component will be scrutinized. The long-term expectation (5-10 years) is at 2.8%. With a brief exception, it has been between 2.7%-2.9% since the end of 2013.”
“The Fed has seemed to emphasize this over the market-based measures though as we noted yesterday, US 10-year breakeven rates are rising.”
Key Quotes
“US Q4 GDP is expected to be revised slightly higher to 2.4% from 2.2%. Personal consumption, which may be more important for policy makers than the overall economic growth is expected to be revised to 4.4% from 4.2%. The softer consumption data in Q1 15 should be placed in that context.“
“In addition, the University of Michigan's final March consumer confidence figures will be reported. In addition to the headline, the inflation expectations component will be scrutinized. The long-term expectation (5-10 years) is at 2.8%. With a brief exception, it has been between 2.7%-2.9% since the end of 2013.”
“The Fed has seemed to emphasize this over the market-based measures though as we noted yesterday, US 10-year breakeven rates are rising.”