US personal spending and second revision to Q1 GDP sees upside risks – Danske

FXStreet (Barcelona) – The Danske Bank Research Team previews the US personal spending, Q1 GDP and Consumer Confidence data release, expecting a spending to show a 0.8%mom increase and Q1 GDP growth to be revised higher.

Key Quotes

“The strong May retail sales report should be mirrored in May data on personal spending, which we expect to show an increase of 0.8% m/m. We expect personal income increased 0.6% m/m as continued strong job growth is supporting household income.”

“The final June University of Michigan consumer confidence is likely to show a modest further improvement in the last weeks of June.”

“We will also receive the second revision of Q1 GDP data. GDP growth is widely expected to be revised higher but will continue to show contraction in the first quarter.”

The Danske Bank Research Team previews the US personal spending, Q1 GDP and Consumer Confidence data release, expecting a spending to show a 0.8%mom increase and Q1 GDP growth to be revised higher.

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