In the US session GDP and Unemployment Claims figures were published. Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2017, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 3.3 percent. With this third estimate for the third quarter, personal consumption expenditures increased less than previously estimated, but the general picture of economic growth remains the same.
In the week ending December 16, the advance figure for seasonally adjusted initial claims was 245,000, an increase of 20,000 from the previous week's unrevised level of 225,000. The 4-week moving average was 236,000, an increase of 1,250 from the previous week's unrevised average of 234,750. Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal.
Tomorrow's session will bring UK Current Account and Final GDP data. GDP is expected to grow by 0.4%, while Current Account deficit should narrow to £21.5 billion. In the US session Durable Goods Orders and New Home Sales figures will be released. Analysts predict 2.1% increase in Durable Goods Orders, while New Home Sales should fall to an annual rate of 654,000.
Figures to watch:
Current Account (Friday 10:30)
Final GDP (Friday 10:30)
Durable Goods Orders (Friday 14:30)
New Home Sales (Friday 16:00)
