U.S. final Q4 GDP seen confirming slump

NEW YORK (Reuters) - U.S. growth data due on Thursday will confirm the slump the economy entered in the fourth quarter, according to a Reuters poll.

Economists polled by Reuters predicted the final fourth-quarter reading would confirm gross domestic product grew by just 0.6 percent, slowing almost to a halt from the rapid pace of 4.9 percent in the previous three months.

The 74 estimates ranged from growth of 0.5 percent to 0.8 percent in GDP, which measures total goods and service output in the United States.

This will be the third and final reading on fourth quarter GDP and is due at 8:30 a.m. on Thursday.

The following is a selection of economists' comments:

ACTION ECONOMICS

Forecast: +0.7 pct

"We expect a small upward bump in the final Q4 GDP reading to 0.7 percent from the 0.6 percent gain revealed in the preliminary and advanced reports. The upward boost should include a $3 billion boost to net exports from revisions in the trade report, and a $1.5 billion boost to inventories, alongside a $3 billion downward revision to construction."

UBS

Forecast: +0.6 pct

"The upcoming report will include the first estimate of corporate profits in the national income accounts in Q4. Strength in earnings from foreign affiliates and a boost to inventory values from higher commodity prices likely led to a solid rise in overall profits."

MERRILL LYNCH

Forecast: +0.6 pct

"Our current tracking -- which incorporates the revisions to the fourth quarter monthly data -- shows downward revisions to personal consumption expenditures, residential and non-residential construction, capex, and government spending -- totaling a $5.1 billion slice to real headline GDP. This is expected to be almost entirely offset by upward revisions to net trade and inventories, which are adding back about $4.8 billion."

(Polling by Bangalore Polling Unit)

(Reporting by Burton Frierson; Editing by Diane Craft)