The first look at fourth quarter US GDP
- Q2 was +33.4% annualized
- Personal consumption +2.5% vs +3.1% expected
- GDP price index +2.0% vs +2.2% expected
- Core PCE +1.4% vs +1.2% expected
Details:
- Ex motor vehicles +4.5%
- Final sales +3.0%
- Inventories added 1.04 pp to GDP
- Business investment +13.8%
- Business investment in equipment +24.9%
- Exports +22.0%
- Imports +29.5%
- Home investment +33.5%
This report is a tad on the soft side on softer personal consumption, something we saw in the Nov/Dec retail sales numbers. Expect the market can brush that off because of additional stimulus checks delivered in December, with more likely to come.
