US DATA: Q4 real GDP final rev is +3.0%; it incl lower exports from
trade data and up-revised equip & software investment. PCE services
+0.4% vs +0.7% in prior est as health was rev up but transport, fin’l &
recreation rev down in offsets. New info on corp profits shows +$16.8b
from current prodn and -$8.3b before tax (vs +$22.3b in Q3). Dom nonfinl
profits were higher except for oil industry; receipts from o/seas fell.
Core PCE prices +1.3%. For all 2011, GDP remained +1.7%.
GDP Components: Q1 Q2 Q3 Q4 intl Q4 rev Q4 finl
Real growth +0.4% +1.3% +1.8% +2.8% +3.0% +3.0%
Real final sales +0.0 +1.6 +3.2 +0.8 +1.1 +1.1
PCE +2.1 +0.7 +1.7 +2.0 +2.1 +2.1
Nonres fixed invest +2.1 +10.3 +15.7 +1.7 +2.8 +5.2
Res fixed invest +2.4 +4.2 +1.3 +10.9 +11.5 +11.6
Net Exprt Contrib cut 0.34 add 0.24 add 0.43 cut 0.11 cut 0.07 cut 0.26
Inventory Contrib add 0.32 cut 0.28 cut 1.35 add 1.94 add 1.88 add 1.81