Consumer sentiment for the month of December reached 98.2, measured by the University of Michigan, the highest level in over a decade. As reported, this measure increased greatly from a month prior on anticipation that the new Presidential Administration will stimulate economic growth and expansion in the form of tax cuts and fiscal spending. The Bureau of Economic Analysis released its final estimation for third quarter Gross Domestic Product growth; this figure, previously revised higher to 3.2% was revised higher still to 3.5% annualized. The revision was helped by a larger increase in personal consumption and state and local government spending than previously measured.
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