US DATA: FOMC’s new cen tendencies cut GDP, raise infl and unemployment
estimates, as expected since these update June data and the economy was
weakening during the interim.
CENTRAL TENDENCY GDP +1.6% TO +1.7% IN 2011 vs +2.7% TO +2.9% in June
2012 CENT. TENDENCY GDP +2.5%/+2.9% VS +3.3% to +3.7% PREV
CENTRAL TEND ’11 UNEMP 9.0% TO 9.1% VS 8.6% to 8.9% PREV
2011 PCE INFL +2.7% TO +2.9% VS +2.3% TO +2.5% PREV
2011 CORE PCE INFL +1.8% TO +1.9% VS +1.5% to +1.8% PREV
2012 CENTRAL TEND UNEMP 8.5% TO 8.7% VS 7.8% TO 8.2% PREV
2012 CENT. TEND PCE INFL +1.4% TO +2.0% VS +1.5% to +2.0%
2012 CORE PCE INFL +1.5% TO +2.0% VS +1.4% TO +2.0% PREV