Quick US GDP preview - What to expect

US GDP for Q1 is expected to be revised up to 0.9% from 0.5%. The spread of estimates runs from 1.4% to 0.5%.
Several components of GDP are expected to add to the higher revision.

• Retail sales ex-autos were revised higher to 0.4% from 0.2% for March
• Durable goods held some upward revisions for March though they mainly pointed to the consumer end
• Factory orders were also revised higher which is likely to give a boost to the manufacturing sector
• The trade deficit improved to 40.4bn from 47.0bn

The consumer is expected to add to higher growth with consumption expected to rise to 2.1% from the flash 1.9%, though that would still be down from Q4's 2.4%.

As always there's lots to look out for in the details, business investment, imports/exports, PCE prices etc.