28 Apr 2016
US: Initial jobless claims and Q1 GDP in focus - BBH
Research Team at BBH, suggests that the US reports weekly initial jobless claims and the first estimate of Q1 GDP.
Key Quotes
“Recall that last week, the week of the nonfarm payroll survey, weekly initial jobless claims fell to their lowest level since 1973, and continuing claims fell to their lowest level since 2000. A small correction would not be surprising.
Yesterday's better than expected advance report of US merchandise trade balance encouraged economists to revise their Q1 GDP forecasts a bit higher. Nevertheless, a poor number is expected today. The US economy practically stagnated. The median expectation is for 0.6%, which is an annualized pace.”
Key Quotes
“Recall that last week, the week of the nonfarm payroll survey, weekly initial jobless claims fell to their lowest level since 1973, and continuing claims fell to their lowest level since 2000. A small correction would not be surprising.
Yesterday's better than expected advance report of US merchandise trade balance encouraged economists to revise their Q1 GDP forecasts a bit higher. Nevertheless, a poor number is expected today. The US economy practically stagnated. The median expectation is for 0.6%, which is an annualized pace.”