Which financial market has it right as stocks move up and interest rates move down?
The final numbers are in for the fourth quarter. Real GDP growth was revised down to only 2.2% from 2.6% released in the first report. Consumption across the board was revised downward. Personal consumption expenditures were revised down from 2.8% to 2.5%. Business fixed investment, government spending and inventory accumulation were all revised downward. This was partially offset by a smaller trade deficit and a small rebound in the housing sector as mortgage rates declined. The initial data from the first quarter indicates this slower rate of consumption continued into 2019.
PROBANK AUSTIN ADVISOR - APRIL 1, 2019