The US Federal Open-Market Committee (FOMC) will meet as the Bureau of Economic Analysis releases its first estimate of Q1 GDP growth (29 April, 08:30 ET). Recent data points to an uninspiring Q1 growth picture. “We forecast 0.5% q/q SAAR, below consensus (1.0%) and a deceleration from 2.2% in Q4-2014”, Says Standard CharteredNon-residential investment is likely to have pulled down growth – mostly due to the ramifications of the oil-price slump and US dollar (USD) strength – while US consumption growth likely remained meagre and unable to offset investment weakness. “We forecast personal consumption growth of 1.6% q/q SAAR (consensus: 1.8%)”, continued Standard Chartered.
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