US: Q4 GDP data to steal the limelight today - Westpac

Following a slow start to 2017, US activity growth accelerated to above 3% in Q2, a pace it has since sustained and Q4 is unlikely to challenge this 'trend', with a 3.3% gain anticipated, according to analysts at Westpac.

Key Quotes

“Consumption growth will be a key support in Q4 thanks to strength in durables spending as well as robust momentum for services. After two negative quarters, residential investment should also aid GDP in Q4.”

“Business investment has certainly improved through 2017; but circa 5%, the annual pace is still modest versus history. A similar gain is expected in the final 3 months of 2017.”

“Inventories and net exports are wild cards quarter to quarter. In this instance, the risks are likely offsetting.”