4th QUARTER GDP AT 0.6% GROWTH RATE

Preliminary number are showing the 4th quarter GDP grew at 0.6%. That is slower growth than the 1% forecast, however not negative. One thing to keep in mind is this is a preliminary number and they always revise the number as time goes on.

FED WATCH TODAY! The Fed is meeting as I write this. What will they do, time will tell!
Here is an article about the GDP news.

Economy Nearly Stalled in 4th Quarter
By JEANNINE AVERSA,
Associated Press
Posted: 2008-01-30 11:06:59
WASHINGTON (AP) - The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002. The Commerce Department's report on the gross domestic product, released Wednesday, showed an economy that had deteriorated considerably during the October-to-December quarter as worsening problems in the housing market and harder-to-get credit made individuals and businesses more cautious in their spending. Fears of a recession have grown, even as inflation remained elevated. For all of 2007, the economy grew by just 2.2 percent, the weakest performance in five years, when the country was struggling to recover from the 2001 recession. The housing collapse dealt the economy its biggest blow last year. Builders slashed spending on housing projects by 16.9 percent on an annualized basis, the most in 25 years. The report came as the Democratic-run Congress and the Bush administration continue to work on a program of tax rebates and business incentives aimed at stimulating the economy. http://money.aol.com/news/articles/_a/economy-nearly-stalled-in-4th-quarter/n20080130110609990021