Economists expect the fourth-quarter GDP to drop to 3.1% as compared to the 5.0% reported in the third-quarter. I have not exactly bought the 5.0% GDP figure reported in the third-quarter as I found that regional reports did not quite match that figure and I am still wondering where the growth came from. The majority of consumer sure do not feel like there has been such a growth rate and their behavior certainly does not reflect it. Let’s see what the US government will cook up for Q4.
The data came in much weaker than expected and so have plenty of other reports. I think the USD could be the worst major currency this year.