US GDP Q1 update - Nomura

Analysts at Nomura offered their Q1 GDP tracking update.

Key Quotes:

"Stronger-than-expected single family starts in February and an upward revision to January suggest slightly stronger residential investment in Q1."

"Although multifamily housing starts showed some weakness, a notable increase in single-family starts, partially attributable to unusually warm weather offset the negative impact."

"Thus, we raise our Q1 GDP tracking estimate by 0.1pp to 1.4% from 1.3%."