NOMURA: That Negative Q4 GDP Report Will Be Revised Higher, Economy Actually Grew

Remember that Q4 GDP report that came in at 0.1%? It won't stay negative. From Nomura: Data releases today each had a significant impact on our Q4 GDP tracking model, but on net the change was a small positive. We began the day with Q4 GDP tracking a decline of -0.1%, matching the BEA's advanced estimate. Better-than-expected December trade data lifted Q4 tracking to 0.6%, but December wholesale inventory data pushed it back down to 0.2%. The trade deficit narrowed sharply in December, much more...