Goldman Sachs now sees higher PCE inflation and lower Q1 growth ...Middle East

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Goldman Sachs now sees higher PCE inflation and lower Q1 growth
The economics team at Goldman Sachs has lowered its tracking estimate on Q1 US GDP growth to 2.3% from 2.5% today following housings starts and PPI data. They've also boosted their estimate for the February 29 release of PCE inflation to +0.43% from +0.35%.Goldman is getting a bit of extra attention right now because they accurately forecast the upside surprise in CPI. BOTTOM LINE: The producer price index (PPI) increased above expectations in January. Core producer prices increased well above consensus expectations, as the PPI excluding food and energy rose 0.5%, and the PPI excluding food, energy, and trade services increased 0.6%. Start-of-year price increases likely drove the strength in

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