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Second Estimate of Q1 GDP Preview - 08:30...>

US DATA
US DATA: Second Estimate of Q1 GDP Preview - 08:30 EDT/13:30 BST
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- First quarter GDP is expected to be revised down slightly to +3.0% based on
the Bloomberg consensus and to +3.1% based on an MNI survey of analysts. This
follows a +3.2% advance estimate and would still be up solidly from the 2.2%
reading in the fourth quarter.
- The GDP price index is expected to be unrevised at +0.9% by both the Bloomberg
and MNI surveys. This followed a 1.7% gain in the fourth quarter.
- Early expectations for the second quarter--based particularly on weak April
retail sales and manufacturing data--suggest some deterioration in the pace of
growth after the solid first quarter.

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