US: Final Q1 GDP is expected to be revised up - TDS

Research Team at TDS, suggests that in the US final Q1 GDP is expected to be revised up via stronger personal consumption, from initial +0.5% to +0.8% and this time up again to +1.0% saar (TD +1.1%). 

Key Quotes

“Both TD/mkt expect personal consumption to be upgraded from 1.9% to 2.0%, while core PCE remains unchanged at 2.1%.  S&P Case-Schiller Apr home prices are projected to lift +0.4% (mkt 0.6%).  Lastly, TD looks for the Richmond Fed Index to strengthen from –1 to +5 in June, providing an upside risk to the +3 market consensus.”