Q4 GDP and Consumption Revisions

This morning, economic prints are mostly in anticipation of Thursday morning’s all-important Personal Consumption Expenditures (PCE), which is the Fed’s preferred gauge of inflation. Q4 GDP, Consumption and the Pricing Index are all updated with an initial revision this morning. Pre-market futures went from being negative in the triple digits on the Dow to negative in double digits upon the numbers reported.The first revision to Q4 GDP came in 10 basis points (bps) light of estimates and the previous print, ...