Joined Nov 11, 2007
31,929 Blog Posts

Household Spending and Exports are Expected to Keep GDP Afloat

“(Reuters) – Robust household spending and rising exports likely kept the U.S. economy on solid ground in the fourth quarter, but stagnant wages could chip away some of the momentum in early 2014.

Gross domestic product probably grew at a 3.2 percent annual rate, according to a Reuters poll of economists.

While that would be a slowdown from the third-quarter’s brisk 4.1 percent pace, it would be a far stronger performance than earlier anticipated, and welcome news in light of the drag from October’s partial government shutdown and a likely much smaller contribution to growth from a restocking by businesses.

“It looks like the economy was firing on a lot of cylinders in the fourth quarter,” said John Ryding, chief economist at RDQ Economics in New York….”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter