Q1 real GDP tracking estimate at 1.6%, up from 1.5% - Nomura

Analysts at Nomura updated their GDP tracker post the Existing home sales data.

Key Quotes:

"Existing home sales in February were stronger than expected, pointing to less of a drag from brokers’ commissions (a component of residential investment) in Q1 following a strong gain in Q4. This led us to modestly raise our Q1 real GDP tracking estimate to 1.6% q-o-q saar after rounding, up 0.1pp from 1.5%."