US GDP to be released tomorrow at 8:30 AM ET
Goldman Sachs has raised their Q1 estimates for GDP to 2.2% from 1.9 previously. The consensus estimate is for 2.0%. Barclays raised their estimate to 1.8% from 1.5% earlier today. The Atlanta Fed GDP tracker came in at 2.0%, right on the consensus.
The US will release the first cut of the 1Q at 8:30 AM ET. The market has penciled in a weaker Q1 but will be looking for more growth in the 2Q. Let's say, the Trump administration will be anxious given the tax cuts. 2.0% growth would not cut it especially since they are penciling higher growth to offset the cuts in taxes. If not, the deficits will balloon.
