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Economic Report Summary 02-28-14

GDP grew at an annual rate of 2.4% in the fourth quarter of 2013, slightly lower than estimated growth of 2.5%. Durable Goods Orders fell 1.0% on a monthly basis in January, whereas consensus pointed to a steeper drop of 1.5%. Ex-transportation, Durable Goods Orders rose 1.1% month-over-month in January, beating forecasts which pointed to a 0.3% decline.

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