Second estimate was -0.2%Final Q4 reading was +2.4%Final sales 3.3% vs +3.2% second readingConsumer spending +0.5% vs +1.2% second readingCorporate profits -3.3% vs -3.6% second reading
Contributors and subtractors:
Consumption: +0.31% vs +0.80% second readingGovernment: -0.10% vs -0.12% second readingNet International trade: -4.61% vs -4.90% second readingInventories: +2.59% vs +2.64% second reading
So the trade numbers improved from the second estimate but that was undermined by worse consumption data. That’s not a great sign going forward.
Inflation data:
GDP deflator +3.8% vs 3.7% expCore PCE final +3.5% vs +3.4% expServices excluding energy and housing +4.3% vs +4.1% priorPrices final +3.7% vs +3.6% prior
The numbers are a tad hot but dated at this point.
This article was written by Adam Button at www.forexlive.com.