On tap: January figures on personal income and spending, housing sales, revised fourth-quarter economic growth, and February national and regional factory activityIt looks like the economy didn't come bouncing back in the fourth quarter as the initial government data first showed. According to economists queried by Action Economics, revised fourth-quarter gross domestic product figures out on Feb. 28 will show a slimmer 2.5% annualized growth, from 3.5% in the initial report.
The main culprit for this reduction lies with a sharper than expected reduction in inventory growth, which in turn corresponded to the weaker housing market and slowdown in demand within the manufacturing sector.
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