GDP grew at an annual rate of 2.4% in the fourth quarter of 2013, slightly lower than estimated growth of 2.5%. Durable Goods Orders fell 1.0% on a monthly basis in January, whereas consensus pointed to a steeper drop of 1.5%. Ex-transportation, Durable Goods Orders rose 1.1% month-over-month in January, beating forecasts which pointed to a 0.3% decline.
The Federal Reserve left interest rates unchanged at 0.25% and also announced another $10 billion cutback in its quantitative easing. Gross Domestic Product grew by 3.2% annualized in the fourth quarter, coming in-line with expectations. Durable Goods orders fell 4.3% on a monthly basis in December 2013, failing to meet estimates at 1.8%. Ex-transportation, Durable [...]