Huge consumer spending should leave PCE up 6.4% -- strongest since Q3 '97.
PCE fueled by durable goods including autos but nondurables will also show very strong growth near 7%.
Stronger business investment signaled by accelerated equipment/software, structural spending to decline.
The booming housing market will only provide a moderate gain in residential investment.
A dip in imports leave a positive contribution from next exports. Exports rise after 3 qtrs of decline.
A decline in inventories leaves another qtrly drag on GDP. Final sales (GDP less inventories) expected at 6.7%.
A more moderate 2% rise in government spending expected after Q2's 8.5% surge.
No offset expected after the 46% (annualized) Q2 surge in defense. Small gain of less than 1% expected.
GDP price deflator expected to rise 1.5%. Core PCE expected at 1.9% (annualized). Disinflation concerns persist.
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