Consensus is +0.4% q/q annualized
The consensus estimate for the second reading on US fourth quarter GDP is +0.4%. That's lower than the +0.7% advance estimate.
However, yesterday's durable goods orders showed surprising strength in shipments and that's a key metric in the GDP report. December capital goods shipments non-def ex-air were revised to +0.9% from +0.2% so that may add a couple ticks.
A negative bias may come from personal consumption. The consensus is +2.2%, the same as the advanced report but December retail sales were weak.
