Economic data and the Fed make for an interesting week.
Investors had a huge amount of data and events to deal with last week. First, the economic data reflected a better environment than has been feared in the last three months. The Advance Report for third quarter Real GDP came in at 1.9% or just below the 2.0% growth reported for the second quarter. Growth was fueled by a 2.9% increase in personal consumption expenditures and by a 3.4% increase in federal government spending. The drag on growth came from an increase in the trade deficit as exports declined due to weak global growth and another decline in business fixed investment.
PROBANK AUSTIN ADVISOR - NOVEMBER 4, 2019