- Q4 growth was 3.0%
- Core PCE 2.1%, as expected
- GDP deflator +1.5% vs +2.0% exp
- Consumer spending +2.9%
- Final sales +1.6% vs +2.1% exp
At first blush, the details look even worse than the headline as trade was a significant boost on a 5.4% rise in exports compared to a 4.3% rise in imports. Business investment fell 2.1% in the first decline since Q4 2009 in another ominous line.
