00:00Jobless claims are the number that everybody is interested in, and we come in at 200,000 even,
00:06which is just a touch higher than it was last week. It's still a very low number,
00:11continuing claims at 201,500,000. That's down from the 205,000 that we had the prior month.
00:22So a very good jobless claims report keeps the narrative going of a low-hire, low-fire economy.
00:28GDP, the revision to this, this is the so-called third revision, but it's really only the second
00:34because they put the first two together, 4.4 percent for GDP. We'll have to see what the
00:41breakdown is on that, but it is better news. It's a setup for what we're going to see when
00:48the fourth quarter comes out. How strong were we when we were going into the fourth quarter?
00:53Fourth quarter, so far, Atlanta Fed GDP now estimates are for about 5.3 percent. The
01:00president was touting that in Davos yesterday. That'll come down because a lot of this growth
01:05was based on the idea that we had no imports to speak of in much of the third quarter. Fourth
01:12quarter also had the government shutdown. A little more detail on our personal consumption comes in
01:17at 3.5 percent, no change. So no additional spending by Americans. This is probably going
01:23to be a inventories and trade story for the third quarter. And finally, the GDP price index
01:33for the quarter, 3.8 percent, no change there.
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