Economic Insights – January 2015

Looking at the economy, all signs point to slow but steady growth.

Real GDP grew at a 5 percent annual rate in the third quarter, a major upward revision from the 3.5 percent reported at the end of October. More importantly, this is the fastest growth rate for any quarter since 2003.

However, this is not a harbinger of a new economic boom, but simply shows that the solid, slow-growth economy is growing a little faster than the average 2.2 percent annual growth rate we saw from mid-2009 through mid-2014. Real GDP was up 2.7 perce.....