Although third quarter 2011 growth came in at just +1.5%, the flow of economic news in fourth quarter was surprisingly positive, with equity markets holding their own, and consumer confidence and spending rebounding sharply. Sales of durable goods were brisk, especially for autos, which posted a December seasonally adjusted annualized sales rate of 13.52 million units. Weekly initial jobless claims have been in a solid downward trend since late November, raising hopes for accelerating payroll growth in the New Year. Read more from NIFCU$ Fund Manager Hillary Elder.
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