MARKET UPDATE: FEBRUARY 2018 IN REVIEW
Economic reports released in February 2018, largely reflecting economic activity in January, signaled continued steady growth though mixed with rising inflation. While a number of the reports missed consensus expectations, softening data were mostly attributable to givebacks following strong data in late 2017. Overall, the data painted an optimistic picture for the U.S. economy in the first quarter of 2018. The Bloomberg-surveyed consensus estimate for fourth quarter gross domestic product (GDP) growth was revised slightly downward from 2.6%, leaving growth for the year unchanged at 2.5%. Consensus forecasts for annualized first quarter 2018 GDP growth stood at 2.7% as March began…Click here to read more.