It's a super busy morning for the US economy -- here's what you need to know

Happy Friday!

It’s a super busy morning for the US economy — here’s what you need to know:

  • The second estimate for US GDP growth in the fourth quarter will cross the tape at 8:30 a.m. ET.
  • Expectations are the pace of growth in the final quarter of 2015 will be revised down to 0.4% from 0.7%.
  • Personal consumption in the fourth quarter of 2015 is expected to remain steady at 2.2%.
  • Personal income and spending will cross the tape at 10:00 a.m. ET and is expected to show a 0.4% increase in incomes and a 0.3% increase in spending.
  • This report will also contain the latest “core” PCE inflation measure — the Fed’s preferred reading — which should show prices rose 1.5% over last year in January. The Fed’s inflation target is 2%.
  • The final reading on consumer confidence in February out of the University of Michigan will also cross at 10:00 a.m. ET and is expected to show confidence held steady. The final reading should hit 91.0. This report will be closely watched for any signs that volatility in financial market rattled US consumers on Main Street.

Stay with BI: Markets for complete coverage as the data rolls in.

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