GDP Economic Growth Suprasses Forecasts; PMI Hits 2-Year High

Economic Growth Surpasses Forecasts

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Thursday, February 28. Major U.S. stock indexes fell slightly today, with the Dow Jones Industrial Average and S&P 500 down 0.3% and the NASDAQ declining 0.8%. Meanwhile, the Bureau of Economic Analysis released a better-than-expected fourth-quarter economic growth estimate (GDP) of 2.6%, and the Chicago Purchasing Managers Index rose eight points in February to reach a two-year high of 64.7. Despite event-driven news and geopolitical headlines, economic fundamentals like these continue to indicate a slow growth, not no growth, economy.

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