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Q4 initial GDP +2.6%, above +2.3% Bloomberg.>

US DATA
US DATA: Q4 initial GDP +2.6%, above +2.3% Bloomberg consensus and 
+2.5% MNI survey, but below +2.9% whisper, putting 2018 GDP at +2.9% vs 
+2.2% in 2017 before an expected 2019 slowdown.
- Q4 slowdown from +3.4% in Q3 on smaller contributions from PCE, net 
exports, and govt spending, offset by a larger nonres fixed contribution 
and a smaller net export drag.
- Real final sales of domestic product +2.5% vs +1.0% in Q3. Final sales 
to domestic purchasers +2.6% vs +2.9% in Q3.
- Core PCE prices +1.7% vs +1.6% in Q3, for y/y rate of +1.9% Q4 vs 
+2.0% Q3.

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