Thursday, February 14, 2019

Q4 GDP Estimates Revised Down Sharply

by Calculated Risk on 2/14/2019 02:59:00 PM

Following the weak retail sales report, Q4 GDP estimates have been revised down.

From Goldman Sachs:

The retail sales report indicated a considerably weaker pace of fourth quarter consumption growth than we had previously assumed. Reflecting this and lower-than-expected November business inventories, we lowered our Q4 GDP tracking estimate by five tenths to +2.0% (qoq ar).
From Merrill Lynch:
Weak retail sales data and inventory build caused a 0.8pp decline in our 4Q GDP tracking estimate to 1.5% from 2.3%