Futures drop after U.S. GDP, inflation data

Feb 20 (Reuters) - ‌U.S. stock ​index ​futures dipped on Friday after data showed U.S. economic growth ‌slowed more than expected in the ⁠fourth quarter, while inflation rose more than ‌economists' estimates in December.

The ‌Commerce Department's report showed U.S. GDP increased at a 1.4% annualized rate ​last quarter after accelerating at a 4.4% pace in the ⁠July-September quarter. Economists polled by Reuters were forecasting GDP ​to grow at a 3% rate.

Separately, Personal Consumption Expenditure index, the ​Federal Reserve's preferred inflation ‌gauge, rose 0.4% in December, on a month-over-month basis, compared ⁠to economists' estimate of a 0.3% rise. Core PCE, which excludes the ⁠volatile food and energy components, rose 0.4% on ​a month-over-month basis, versus economists' forecast for a 0.3% rise.

At 8:34 a.m. ET, S&P 500 ‌E-minis were down 19.25 points, or 0.28%, Nasdaq 100 E-minis ‌fell 96.5 points, or 0.39% ⁠and Dow E-minis ‌dropped 115 points, ​or 0.23%.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun ‌Koyyur)

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