US GDP Report Set to Highlight Immigration-Driven Economic Boom [BNN Bloomberg (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
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Source: BNN Bloomberg
The figures, to be published Thursday by the Bureau of Economic Analysis, will probably show GDP rose at a 2.5% annualized rate over the first three months of the year, according to the median estimate in a Bloomberg survey. Consumer spending is seen advancing 3%. While both estimates would mark a step down from growth rates in the previous quarter, they would lead to an acceleration in GDP growth on a four-quarter basis, to the fastest pace in two years. Economists have generally been revising their forecasts higher after a recent Congressional Budget Office report estimated more immigration than previously thought. Here's what to watch for in key components of the report: Consumer Spending Personal consumption expenditures account for about two-thirds of GDP, and they probably continued to propel growth in the first quarter. Monthly data for January and February indicated a robust advance in services spending in particular, while goods spending edged lower. “Consumers pic
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