US GDP revised downward in Q4: growth came in at +2.7% quarter-on-quarter

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Banca March : In the US, Q4 GDP was revised downwards: growth came in at +2.7% quarter-on-quarter annualised vs. +2.9% published in the first estimate.

Although GDP continues to show sustained growth, the component reading was weak as this revision was mainly explained by a lower contribution from private consumption that grew by +1.4% quarterly annualised compared to +2.1% previously published.

Moving on to other data, in the labour market, the numbers continue to show strength with weekly jobless claims declining in the last week to 192k claims from 195k previously and below the 200k expected.

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