Free Markets, Free People
The following US economic statistics were announced today:
The Commerce Department reports that 4th Quarter GDP came in well below expectations, declining -0.1%. The GDP Price Index, an inflation measure, rose 0.6%. Government purchases fell by 6.6%, leading the decline, but the rest of the report is generally more sluggish than in the 3rd quarter, with final sales of domestic product rising only 1.1%, versus 2.4% in the 3rd quarter.
MBA Purchase applications fell -8.1% last week, with mortgages down -2.0% and re-fis down -10.0%.
ADP estimates a gain of 192,000 private payroll jobs in December.