US Q4 prelim GDP +1.0% vs +0.4% expected

Details of the second reading on Q4 GDP
– The first reading was +0.7%
– Personal consumption +2.0% vs +2.2% exp
– Prior personal consumption was +2.2%
It’s a bit of a confusing day on the personal consumption side. There’s the consumption line in the GDP report for Q4 but 90 minutes later the January PCE report is due, which also focuses on personal consumption.