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27 Mar 2015
US Q4 GDP might come out below consensus – KBC
FXStreet (Barcelona) - The KBC Bank Research Team previews today’s US data releases, noting that weak data might lead to a below consensus US Q4 GDP revision, but won’t have any major market impact.
Key Quotes
“The third reading of US Q4 GDP is expected to show a marginal upward revision, from an annualized 2.2% Q/Q to 2.4% Q/Q. The data are however outdated and revisions will probably be small, which should have no impact on markets.”
“According to the first estimate, Michigan consumer confidence weakened significantly in March, from 95.4 to 91.2, but the final reading is expected to show a limited upward revision to 92.0. We believe that the risks are for a stronger outcome as also the weekly Bloomberg indicator picked up in the previous weeks, probably due to better weather conditions and as consumers are starting to adapt to higher gasoline prices.”
Key Quotes
“The third reading of US Q4 GDP is expected to show a marginal upward revision, from an annualized 2.2% Q/Q to 2.4% Q/Q. The data are however outdated and revisions will probably be small, which should have no impact on markets.”
“According to the first estimate, Michigan consumer confidence weakened significantly in March, from 95.4 to 91.2, but the final reading is expected to show a limited upward revision to 92.0. We believe that the risks are for a stronger outcome as also the weekly Bloomberg indicator picked up in the previous weeks, probably due to better weather conditions and as consumers are starting to adapt to higher gasoline prices.”