27 Jan 2012

Posted at 15:37h in The Friday Brief by
Some air went out of investors’ hopes today as the government reported lower-than-expected growth for the fourth quarter. Economists had projected a 3.0% increase. Still, the 2.8% pace represents the fastest growth for the economy since the second quarter of 2010. The government also said that consumer spending in the US rose 2% in the fourth quarter, improving the 1.7% rate of the third quarter and 0.7% in the second quarter. As the trading session gets started, stocks are mixed. Bonds remain higher.