Economic Data Released January 30 (30-01-2008)

GDP Data

According to data released by the Commerce Department reported Wednesday, the U.S. economy slowed sharply in the fourth quarter, growing at a 0.6% annual rate, the weakest growth since the economy was pulling out of recession in 2002.

The growth rate was lower than the 1.1% expected by economists, down from a 4.9% pace in the third quarter.

Private sector Data

According to the ADP employment report released Wednesday, employment in the private sectors in the U.S. private grew by 130,000 jobs in January.

This report comes two days before the Labor Department reports on non-farm payroll growth for January. Together with the 25,000 jobs created by government, the ADP report suggests non-farm payrolls grew by about 155,000, well above the 70,000 jobs now expected by Wall Street economists.

Source: ISFM