The wealth of data released last week and due out this week could change expectations.

The flow of data is beginning to accelerate as the government agencies catch-up after the partial shutdown. Last week the BEA released fourth quarter Real GDP estimates. This report included the advance report scheduled for January and the first revision of data scheduled for February. The economy grew at a better than consensus expected rate of 2.6% to end the year. Growth was better due to personal consumption expenditures growing by 2.8% even with the monthly data indicating a slowdown in final demand in both November and December. The Commerce Department has as yet to release spending for January. Fourth quarter growth was also impacted by better than expected capital spending with business fixed investment leading the surge.