4Q GDP rev down to +2.5% SAAR, as expected,.>

US DATA: 4Q GDP rev down to +2.5% SAAR, as expected, from +2.6% in the 

adv estimate, with downward revisions to inventories, nonresidential 

fixed investment, and government spending offsetting an upward revision 

to residential building and a slightly smaller trade gap.

- The PCE measure was unrevised at a +3.8% pace, with a downward 

revision to goods spending negating an upward revision to services 

spending. The savings rate was revised up to 2.7% from 2.6% in the adv 

estimate, but was still down sharply from 3.4% in 3Q. 

- The prices measures were generally unrevised. The overall GDP price 

index now +2.3% vs adv +2.4%, while the closely watched core PCE was 

unrevised at +1.9%, keeping the the y/y rate at +1.5%, up modestly from 

+1.4% in 3Q. 

- Real final sales of domestic product were revised up to +3.3% vs 

+3.2% in adv estimate, while sales to domestic purchasers were 

unrevised at +4.3%.