Friday, March 25, 2016

Upbeat Economic News

There's some good economic news out this morning from the Bureau of Economic Analysis: Real gross domestic product  increased at an annual rate of 1.4 percent in the fourth quarter of 2015, according to the government's third and final estimate. The first estimate had been a paltry 0.7 percent, and the second estimate was 1.0 percent.

The Bureau also released final overall numbers for 2015, in which the economy grew at 2.4 percent. That's exactly the same number that we saw for 2014, which suggests 2.4 percent as a "new normal."

There was also some down news released this morning: Corporate profits decreased by a whopping $159.6 billion in the fourth quarter of 2015. That follows on the heels of a decrease of $33.0 billion in the third quarter.

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