GDP report offered no really new information

Some people seemed to get excited or depressed by the GDP report today, but there was honestly no really new information in it. Overall real GDP growth was the same as the advance report a month ago (+0.6%). Exports were a tad higher and inflation was a tad higher. No net change.

That said, the GDP report is ancient history and does not tell us what was really happening in December as opposed to October and November, and it certainly doesn't tell us anything about January or February, let alone the state of the economy going forward.

About the only thing it does tell us is that those watchers and hand-wringers who had expected that Q4 was going to mark the beginning of a recession will have to wait at least a quarter.

-- Jack Krupansky