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Tipsheet

Watch Out Below for Falling GDP

The revised estimate for GDP growth in the fourth quarter came out before the market open today. Almost a half a percentage point was shaved off of the original estimate of 2.6% annual growth, down to 2.2%. Lower spending on residential construction was offset partly by higher government spending.
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The revision was in line with what analyst expected. Coming off big gains in the third quarter, analyst originally expected GDP to come in around 3%. That means economists were off by about a third in their original predictions. As the Federal Reserve has indicated an eventual return to higher interest rates, GDP growth will be more closely watched for: 1) market valuations and 2) interest rate hikes.This economy is slowing.

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