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US Q4 GDP Revised Lower Prior to Release | UK Parliament Fails to Reach Consensus

Published March 28, 2019

• US January trade data has demonstrated a distinct drop in imports from China over the past month, as US-China trade talks will be continuing today. Chinese negotiators will be eager to get an agreement drafted before President Xi Jinping travels to the US, as both sides are expected to hold meetings in Washington starting April 3.
• US fourth-quarter GDP has been revised again, with economists polled forecasting that US economic growth will slow to a pace of 2.4% on the quarter marking a downward revision from 2.6% increase for the period. The overall sentiment for the economy should see US growth operating around trend with inflation a little below 2%.
• UK Prime Minister May has stated she will resign if the government deal succeeds and will stay if it fails. The UK Members of UK Parliament spent yesterday evening voting on eight indicative votes but as expected, the MPs failed to reach a consensus on any of the options.
• German and Spanish consumer price data came in mixed early this morning with Spanish flash CPI notably missing forecasts. Eurozone business sentiment opinion polls are also released later today. This comes as ECB President Draghi highlighted the damage of negative interest rates in a speech yesterday.