March 29, 2016
Q4 GDP Revised Upward by Strong Consumer Spending

Q4 GDP Revised Upward by Strong Consumer Spending

Q4 GDP Revised Upward by Strong Consumer Spending WEEKLY UPDATE – MARCH 28, 2016 Stocks ended the holiday-shortened week down, snapping their five-week winning streak. However, losses were mild amid low trading volume before the Easter weekend. For the week, the S&P 500 lost 0.67%, the Dow fell 0.49%, and the NASDAQ dropped 0.46%.[1] Last week’s economic calendar was highlighted by the third estimate of fourth-quarter 2015 economic growth. The report showed that Gross Domestic Product grew much faster than originally thought- by a 1.4% annualized rate instead of 1.0%. For all of 2015, the economy grew by a respectable 2.4%- not too shabby considering the headwinds the country faced down last year.[2]  The revision reflected much stronger consumer spending than originally thought, which is a relief to recession-watchers and could bode well for the economy in 2016. Spending is being supported by a strong labor market and low gas […]