Friday, January 30, 2009 0 comments ++[ CLICK TO COMMENT ]++

US GDP comes in stronger than expected; Canadian one weaker

It looks like the 4th quarter US GDP number came in at -3.8%, which is better than the -5.4% consensus expectation. Even with the stronger-than-expected number, the US stock market is off slightly (down around 0.5%) right now. Although the number was much better than expected, it's still pretty weak and some think the worst will be first and second quarters of this year.

The Canadian November GDP change--Canada reports monthly numbers--is weaker than consensus. GDP seems to have declined 0.7% in November versus around -0.4% expected by consensus.

All these numbers may be revised later but this goes to show how blindly listening to economists is not a good technique.


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