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Deutsche Bank on GDP

US OUTLOOK/OPINION
Deutsche Bank downgraded their "current-quarter growth estimate to 7.1%" from 7.9%, citing "last week's modestly weaker inflation-adjusted consumption data as well as increased downside risks to December services spending due to the omicron variant."
  • Forward guidance, DB notes the downgrade only has a "minor effect of lowering our 2021 Q4/Q4 real GDP growth estimate by a tenth to 5.6%. Indeed, there were no material changes to the broader 2022 outlook."

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