U.S. economy likely to expand 2.1 pct sequentially in Q2 2017 - Barclays
The U.S. Census Bureau released its Quarter Services Survey for the first quarter earlier today, giving detailed estimation of revenue and expense for U.S. service-providing companies. The BEA has used these data since 2…
The U.S. Census Bureau released its Quarter Services Survey for the first quarter earlier today, giving detailed estimation of revenue and expense for U.S. service-providing companies. The BEA has used these data since 2009 to revise its line-item estimates of private services consumption and intellectual property investment in between the second and third estimates of quarterly GDP, noted Barclays in a research report.
The first quarter GDP data’s second estimates shows that annualized real output growth came in at 1.2 percent quarter-on-quarter, mainly driven by investment growth, while personal consumption expenditure was dismaying. The Quarter Services Survey data imply that growth in both intellectual property rights and consumer spending were widely consistent with the bureau’s assumption.
“Overall, we left our Q1 GDP tracking estimate unchanged at 1.2 percent q/q saar and our Q2 GDP tracking estimate unchanged at 2.1 percent q/q saar”, added Barclays.
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