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.
Behind the concrete, the visible events, behind all the objective, logical considerations, we find the struggle against evil, against the servants of the antichrist. Everywhere and always demonic powers lurk in the dark, waiting for the moment when man is weak. When he yields to the forces of evil, he separates himself from the power of a higher order; after taking the first step, he is driven on and on to the next and to the next, at a furiously accelerating rate.
Die Weiße Rose, 1942