US GDP Q4 tracking update - Nomura

Analysts at Nomura offered their Q4 GDP tracking update: 

Key Quotes:

"Shipments of core capital goods (non-defense capital goods excluding aircrafts) fell short of our expectation in November with downward revisions to prior months, which is negative to our tracking estimate. 

However, real personal spending in November was broadly in line with our expectation, and downward revisions to prior months were smaller than we had anticipated. 

The net impact on our GDP tracking model was positive, and as such, we are raising our Q4 GDP tracking estimate by 0.1pp to 1.2% from 1.1% previously."