New US GDP estimates for the first quarter point to a strong acceleration in growth over last year’s Q4 increase, based on a set of recent nowcasts. Survey data tracking economic expectations also point to a ramp-up in projected output for the Q1 GDP report that’s scheduled for release next month.
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* Analysts expect OPEC to reverse oil production cuts
* Global growth accelerated in February, rising to four-month high
* US businesses optimistic on economy, Fed Beige Book reports
* US Composite PMI (GDP proxy) rose to seven-year high in February
* US services sector growth eases to slowest pace May via ISM data, but…
* Services PMI (via IHS Markit) shows a much stronger profile for February
* US employment growth slowed more than expected in February via ADP data: