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As a result of weaker Jan retail......>

US DATA REACT
US DATA REACT: As a result of weaker Jan retail sales data, Morgan Stanley is
lowering their 1Q GDP tracking estimate to 2.9% (from 3.3% previously).
"Incorporating the weaker-than-expected retail control gauge, the December
revisions and the stronger-than-expected CPI print lowered our 1Q real PCE
tracking estimate to 2.6% (from 3.4% previously). The upside surprise in CPI
implied a higher PCE price deflator for 1Q18, meaning less inflation-adjusted
(real) spending."

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