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Q4 GDP First Estimate

US DATA

Nomura economists expect "real GDP to increase 5.1% q-o-q saar in Q4 after rising 33.4% in Q3, a still-healthy pace. However, the topline reading may mask a significant weakening in momentum during the quarter as consumer spending steadily worsened from October-December, consistent with our forecast of a 0.2% q-o-q saar increase in real GDP during Q1 2021. For Q4, we look for a 2.8% increase in real personal consumption expenditures (PCE)."

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