22 Dec 2014
US Q3 GDP estimate may see an upside revision – Nomura
FXStreet (Barcelona) - FXStreet (Barcelona) - According to the Research Team at Nomura, the economic momentum has gained strength due to positive data after the second Q3 GDP estimate, thus expecting the third estimate for the Q3 GDP in the US to revise to the upside to 4.3%.
Key Quotes
“Q3 GDP, third estimate (Tuesday), Incoming data since the second estimate of Q3 GDP have been more favorable for economic momentum as our tracking estimate points to final sales growing at an annualized rate of 4.2% compared with 4.1% in the second release, as personal spending, fixed investment, and government spending data have all been stronger than previously estimated.”
“Data on inventory investment has come in stronger than the Bureau of Economic Analysis (BEA) had assumed.”
“Therefore, taken together, our Q3 GDP tracking estimate suggests that the BEA will revise up its Q3 GDP estimate by 0.4pp to 4.3%.”
Key Quotes
“Q3 GDP, third estimate (Tuesday), Incoming data since the second estimate of Q3 GDP have been more favorable for economic momentum as our tracking estimate points to final sales growing at an annualized rate of 4.2% compared with 4.1% in the second release, as personal spending, fixed investment, and government spending data have all been stronger than previously estimated.”
“Data on inventory investment has come in stronger than the Bureau of Economic Analysis (BEA) had assumed.”
“Therefore, taken together, our Q3 GDP tracking estimate suggests that the BEA will revise up its Q3 GDP estimate by 0.4pp to 4.3%.”