Heads up – we're just minutes away from the second estimate for fourth quarter U.S. GDP.
The advance estimate, released January 30, revealed that output contracted 0.1 percent in the fourth quarter, largely driven by a drop in federal defense spending and destocking of private inventories.
However, given some of the backward-looking economic data that has been released since then, economists now predict that the economy grew 0.5 percent in the fourth quarter.
Personal consumption is expected to have expanded 2.3 percent, slightly above the advance estimate of 2.2 percent growth.
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via Business Insider http://www.businessinsider.com/us-q4-gdp-second-estimate-2013-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29
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