US: Q4 GDP to come in at 2.7% - Nomura

Analysts at Nomura expect the BEA’s final estimate of US Q4 real GDP growth to come in at 2.7% q-o-q saar, 0.2pp higher than its second estimate.

Key Quotes

“Incoming data since the second estimate have been mostly in line with our and the BEA’s estimates. Q4 likely saw solid contributions from personal spending, business equipment investment and residential construction, which could be revised up modestly. The Q4 Quarterly Services Survey indicated a solid pickup in service consumption by households, pointing to upside risk to personal consumption expenditure, but suggested investment in intellectual properties may have been weaker than the BEA’s estimate.”