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Ahead of the US GDP release,........>

US DATA PREVIEW
US DATA PREVIEW: Ahead of the US GDP release, analysts at Barclays expect Q1 GDP
to grow by 1.5% q/q saar, representing a slowdown from Q4. Incoming data during
the quarter have suggested less momentum in activity, especially household
spending on durables.
- CIBC say while our slightly sub-2% growth forecast for Q1 may not look
particularly strong, due to potential issues adjusting for seasonality, the
average first quarter growth rate since 2010 is only 0.9%. As such, we are still
fairly comfortable expecting that 2018 as a whole will be stronger than 2017,
aided by the impact of tax changes on spending and investment, and by higher
government expenditure.
- Nomura expect the first reading of Q1 real GDP growth to come in at 1.6% q-o-q
saar, the first sub-2% print since Q1 2017. Consumer spending has been tepid
over the past three months, contrasting somewhat with elevated consumer optimism
and firm fundamentals. 
- TD expect the advance estimate to confirm another disappointing Q1 near an
ontrend pace of 1.6%.

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