Following a surprisingly strong second half of growth in 2023, the economy is amid its first stumble in some time. Overall, the data released in February was mixed, but several data points such as retail sales, durable goods orders and ISM manufacturing/services all missed expectations. Additionally, fourth quarter GDP was revised lower by 0.1%. Still, as has been the case for the past year or so, the focus of market participants was squarely on the inflation data.
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