The U.S. economy released today the advanced GDP estimate for the fourth quarter of 2009, where the U.S. economy grew by 5.7% following the prior reported expansion of 2.2% in the third quarter and well above median estimates of 4.7%. Personal consumption rose in the fourth quarter by 2.0% down from 2.8% in the third quarter and more than estimates of 1.8%.

The GDP price index rose by 0.6% up from 0.4% in the prior estimate and below median estimates of 1.3%, while core PCE rose in the fourth quarter by 1.4% slightly higher than the prior and expected estimates of 1.2% and 1.3% respectively.