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Heading into the US Q1 GDP data release at 1230 GMT later today, the Goldman Sachs analysts made an upward revision to their first quarter US growth forecasts.

Key Highlights:

US Q1 GDP now bumped up to 2.6% y/y vs. 2.4% previous forecast, citing:

The firm pace of durable inventory growth.  

The surprising rebound in commercial aircraft shipments in March.