The Commerce Department reported that preliminary 4Q GDP was left unchanged at an annual rate of growth of 0.6%, slightly below the forecast of 0.8%. Personal consumption fell from 2.0% in the advance report to 1.9%.
Inflation worsened, with the PCE Price index rising from an annual rate of 3.9% to 4.1%, but the core PCE Price Index, which is a broad measure of inflation that excludes food and energy, held at 2.7%. More from Bloomberg...
