Final US GDP report for Q4 2023 was released today at 12:30 pm GMT. This was the third release of the data, therefore it was not expected to show any major deviations from previous readings or trigger any major market reaction.
Actual report turned out to be a positive surprise with annualized GDP growth being revised from 3.2 to 3.4%, while core PCE reading was revised lower from 2.1 to 2.0% QoQ. Headline PCE was left unchanged at 1.7%. Jobless claims data that was released simultaneously showed a lower-than-expected initial claims and higher-than-expected continuing claims.
US, GDP report for Q4 2023 (third release)
- Annualized GDP growth: 3.4% vs 3.2% in second release (4.9% in Q3 2023)
- Core PCE: 2.0% QoQ vs 2.1% QoQ in second release (2.0% QoQ in Q3 2023)
- PCE: 1.7% QoQ vs 1.7% QoQ in second release (3.3% QoQ in Q3 2023)
- Annualized personal consumption: 3.3% vs 3.0% in second release (3.1% in Q3 2023)
US, jobless claims
- Initial jobless claims: 210k vs 214k expected (210k last week)
- Continuing jobless claims: 1819k vs 1815k expected (1807k last week
Report can be seen as a positive, showing higher GDP growth and lower inflation. US index futures jump following the release, but the move higher was erased already and US500 is now trading little changed compared to pre-release levels.. USD gained in a knee-jerk move but has erased those gains since and EURUSD is now trading above pre-release levels.
Source: xStation5
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