US: Q1 GDP data in the limelight – Deutsche Bank

The research team at Deutsche Bank suggests that the focus will be on the US this afternoon where there are a number of important releases due including the all-important Q1 GDP figures.

Key Quotes

“First up is the second estimate of Q1 GDP where the consensus is for an upward revision in growth to +0.9% qoq from +0.7%. Our US colleagues expect a small upward revision to +0.8% qoq. Importantly for growth in the current quarter we’ll also receive the April durable and capital goods orders report where the consensus is for a weak headline durable goods orders print to be offset by a healthy gain in both ex-transportation orders (+0.4% mom expected) and core capex orders (+0.5% mom expected).”

“Also due out this afternoon is the final May University of Michigan consumer sentiment print where it’s worth keeping an eye on the various inflation expectations indicators too.”