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US: Initial Jobless Claims and Q1 GDP in Focus - BBH
Research Team at BBH, suggests that the US reports weekly initial jobless claims and the first estimate of Q1 GDP.
Key Quotes
“Recall
that last week, the week of the nonfarm payroll survey, weekly initial
jobless claims fell to their lowest level since 1973, and continuing
claims fell to their lowest level since 2000. A small correction would
not be surprising.
Yesterday's better than expected advance
report of US merchandise trade balance encouraged economists to revise
their Q1 GDP forecasts a bit higher. Nevertheless, a poor number is
expected today. The US economy practically stagnated. The median
expectation is for 0.6%, which is an annualized pace.”
