Free Trial

On tap for Thursday: jobless........>

US DATA PREVIEW
US DATA PREVIEW: On tap for Thursday: jobless claims (220k est); Q4 GDP (init)
(2.1% est); ISM-Milwaukee Mfg Index; MNI Chicago PMI (58.0 est); Q4 housing
vacancies rate. Multiple Fed speakers on tap with Fed Chair Powell on economic
developments and long term challenges dinner event in NY.
- RBC economists note a "downgrade to consumer spending on the heels of one of
the uglier retail sales reports in years (Dec control retail sales tanked -1.7%
m/m) led to a notable mark-down to our 4Q GDP tracking recently. Indeed, we have
baked in just a 2.0% q/q annualized advance for topline growth." Citing healthy
real personal consumption and Capex vs. disappointing trade and inventories, RBC
anticipates "rather solid GDP report, with final sales to private domestic
purchasers (which excludes inventories and flips imports and export, i.e., a
better gauge of domestic demand) near 3%."
- RBS economists said though they are "somewhat skeptical of the results," they
are obliged to lower their "Q4 forecasts for both consumer spending and real
GDP. Indeed, in the wake of the retail sales data, consumer spending now looks
likely to have risen by only 2.8% annualized in Q4."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });