by Bill McBride on 12/23/2014 08:41:00 PM
Tuesday, December 23, 2014
U.S. gross domestic product, the fullest measure of economic output, was shown in the Commerce Department’s third estimate to have expanded at a 5% pace in the third quarter—up from the second quarter’s growth rate of 4.6% and the strongest pace since the third quarter of 2003.And Q4 will be decent, although it appears some investment will slow - especially for petroleum and natural gas - but the consumer will be solid. A nice end to a good economic year!
The growth was buoyed by consumer spending on health care and restaurant meals, business investment in equipment and new software, and a rise in exports.
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 290 thousand from 289 thousand.
• The NYSE and the NASDAQ will close at 1:00 PM ET.
Posted by Bill McBride on 12/23/2014 08:41:00 PM