The Commerce Department will release its initial estimate of how the US economy performed in the fourth quarter at 8:30 a.m. ET.
Economists forecast that Gross Domestic Product (GDP), the value of everything produced domestically, rose by 3%, according to Bloomberg.
Some of the strongest indications that the economy ended the year on a sound note came right at the end, as the holiday shopping season ramped up. Data from Mastercard SpendingPulse showed that sales from November 1 through Christmas Eve rose 4.9% year-on-year, the strongest pace since 2011.
The housing market also ended the year on a read more >>>