Philly Fed survey lowers US Q1 2014 GDP to 2.0% from 2.5%

Posted by Forex Live

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  • Q2 GDP 3.0% vs 2.9% prior
  • Sees Q1 unemployment at 6.7% vs 7.1% prior, Q2 6.6% vs 7.0% prior
  • Q1 Non farm payrolls averaging 177,400 p/month vs 187k prior, Q2 unchanged at 193,500
  • Q1 CPI at 1.8% from 1.9% prior estimate
  • Q1 PCE prices 1.5% from 1.7%

Results of a quarterly survey of economists by the Philly Fed.

They’re pointing to a modest slowdown in job gains which will pick up in the second quarter. Jan and Feb NFP averages at 94k to date.