US final Q4 GDP +2.6% vs +2.7% expected

• Q3 was +3.2% annualized
• Personal consumption +1.0% vs +1.4% 2nd reading
• Core PCE prices +4.4% vs +4.3% expected
• PCE prices +3.7% vs +3.7% 2nd reading
• GDP final sales +3.7% vs +1.2% 2nd reading
• Corporate profits after tax -2.7% vs +0.8% in Q4
• Consumer spending on durables -1.3% vs -1.8% 2nd reading

The consumer spending numbers are a disappointment and highlights that consumers might be less of a driver of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term than thought. That said, we're talking about data from Oct-Dec here so it doesn't tell us much about the current consumer or economy.

Percentage point changes:

• Inventories pp +1.47 pp vs +1.47 pp in 2nd reading
• Net trade pp +0.42 vs +0.46 pp in 2nd reading
• Government spending +0.65 pp vs +0.63 pp in 2nd reading
• Goods -0.01 vs -0.13 pp in 2nd reading
• Services +0.72 vs +1.06 pp in 2nd reading