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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (25928)4/30/1999 9:24:00 AM
From: Lee  Read Replies (1) of 50167
 
Thanks Ike,..Re:.Q1 GDP

Q1 GDP came in a very healthy number and would have been even better except for the trade numbers. It's apparent in the tables that there is no sign of slowing anywhere and that the consumer is still very strong. The text of the report won't be posted until around 12:30 pm according to the BEA but the tables are posted.

Q1 GDP = +4.5%
price deflator = +1.4%
Personal consumption & Expenditures = +6.7%

Bonds are retracing yesterday's gain because of the strength and a discrepancy on reported personal income causes some question going forward about wage inflation accelerating.
204.71.198.61:443/925477826970?User=demo&Pswd=demo&DataType=GIF

Notice in the 'addenda' from the quarterly reports that 'disposable
personal income' was up 4.6% which conflicts with the 3% reported by
ECI yesterday. James Padhina pointed out in his 4/28 article that ECI does not include stock options whereas the productivity numbers do include that measure. Even the employment report released by the BLS on April 2nd shows average hourly earnings up 3.6% YOY.

bea.doc.gov
bea.doc.gov

Chicago Purchasing Managers Index and consumer confidence numbers are out at 10 am.

Good trading,

Lee
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