Thursday, January 28, 2016

Friday: GDP, Chicago PMI

by Bill McBride on 1/28/2016 06:58:00 PM

From the Atlanta Fed GDPNow:

The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2015 is 1.0 percent on January 28, up from 0.7 percent on January 20. The forecast for fourth-quarter real residential investment growth, currently 3.4 percent, increased more than 4 percentage points after last Friday's existing home sales report from the National Association of Realtors. The advance estimate for fourth-quarter GDP growth will be released Friday, January 29 by the U.S. Bureau of Economic Analysis
The headline GDP number will not be great.

• At 8:30 AM ET, Gross Domestic Product, 4th quarter 2015 (Advance estimate). The consensus is that real GDP increased 0.9% annualized in Q4.

• At 9:45 AM, Chicago Purchasing Managers Index for January. The consensus is for a reading of 45.5, up from 42.9 in December.

• At 10:00 AM, the University of Michigan's Consumer sentiment index (final for January). The consensus is for a reading of 93.0, down from the preliminary reading 93.3.