Real GDP in Q4 was not too robust, but the numbers will likely be revised upward.
Another confirmation of the strength of the recovery.
Consumer should not be underestimated. Combined mortgage debt and household debt only 14%, just barely above the 1980-to-date median.
With only a slight hesitation, consumer spending continued to increase month after month during the 2001 recession, ignoring the layoffs and the slide in the consumer confidence measures.