Read the highlights of this week’s commentary from Helios:
The US economy grew at a 2.9% annualized pace in the fourth quarter. While the economy slowed from the third quarter’s 3.2%, it beat economists’ expectations, which were for a 2.6% growth rate. Under the hood, consumer demand rose 2.1% though that was less than expected as the momentum behind the consumer weakened. However, real disposable personal income rose by 3.3% in the fourth quarter, a substantial uptick compared to the 1.0% rise in the third quarter.
Initial jobless claims fell to 186K, down from the prior week’s 192K and brining the 4-week average below 200K for the first time since last May.
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