In a sign that the economy may be picking up, the gross domestic product increased dramatically to an annual rate of 5.7% in the fourth quarter, according to a preliminary estimate released today by the Commerce Department.
Consumers showed less reluctance to buy big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.
Housing starts declined by 4% last month, a setback following the 8.9% increase in November, according to according to a report issued today by the Commerce Department and the Department of Housing and Urban Development.
Consumers were leery about opening up their wallets last month as retail sales fell 0.3%, following two consecutive monthly increases, the Commerce Department reported today.
Construction spending declined 0.6% in November, according to data released today by the Commerce Department.