The US will release its Advanced Estimate of GDP for the fourth quarter of 2008 tomorrow morning at 8:30 AM.
The consensus of economists is for -5.4% which is a quarter number, non-annualized to put this into comparison with other countries which annualize their numbers.
A low end print of -6.0% is the whisper with the "Yikes!" number at -7.0%
It is thought by some that the Obama Administration release a conservative advance estimate to help shock the Senate into acting on their stimulus package. Who can tell about such things?
Keep an eye on the Chain Deflator which is estimated to come in at 0.6%.
In addition to GDP, the Chicago PMI and Revised Michigan Sentiment for January will also be released at 9:45 and 9:55 respectively.
"O that I could find in the desert a wayside shelter for travelers, that I might depart from my people. For they are all adulterers, an unfaithful mob of traitors. Their tongues are devious weapons, bent like drawn bows. With falsehoods rather than truth they have gained power. They commit one crime after another. They do not know me, says the Lord. I will make Jerusalem a heap of ruins, the lair of jackals. I will lay waste to Judah, a desolation where no one can live."
Jeremiah 9:2-3,11