(menafn – ecpulse)
Today major data will be released regarding the economic growth of the superpower to most probably show an unchanged growth or actually a slight modification of this economic expansion pace around 2.8 percent throughout the fourth quarter; personal consumption could have stayed unchanged as well within the same period around 2.0 percent since that overall conditions are on the right track but only reviving gradually due to ongoing local and global downside pressures.
Later on today the Bureau of Economic Analysis from the U.S. Commerce Department will provide us with the world's leading annualized GDP fourth quarter second reading and projected unchanged at 2.8 percent which might limit the effect on the market.
In fact we should keep in mind that throughout the past period there were crystal clear signs of enhancement and improvement witnessed within most of the country's sectors. Released data were mainly better than projected and of course strong and cheerful results posted by huge U.S corporations, yet these overall activities remain pressured by the downside pressures seen locally such as the ongoing high crucial jobless levels and challenges shown abroad such as the endless debt crisis.
No wonder as well that the second reading of the country's personal consumption of goods and services, that also includes interest payments made on non-mortgage debt and transfer payments to government or social services, is projected to show no change at 2.0 percent which is truly not depressing since that this expresses a constant expansion of consumption rather than contraction even if it is not showing a significant inclining change.
Furthermore today we will have the Chicago PMI released; a monthly report that measures the business conditions based on surveys of purchasing managers across Illinois, Indiana, and Michigan, to most probably show once again that the business conditions of the nation keep on expanding gradually to come in around 61.0 from 60.2, confirming as before that these business conditions continue on supporting the superpower's growth and boost this economic expansion.
Moreover, later on today the Fed's Beige Book will be released two Wednesdays ahead of every FOMC by the Federal Reserve as always posting out 12 regional reports from each of the Fed member banks and interviews economists, with key business contacts, market experts, and other sources to most probably give us details of the different activities within the nation's districts and give us more depth of the present economic path of the superpower.