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Dec 4, 201412:03 PMOpen Mic

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Market and economic update: November ends with flurry of economic data

Despite the Thanksgiving holiday, the end of November came with a flurry of economic data. Stronger third-quarter GDP growth, revised up to 3.9% from 3.5%, was met by weakening data for October and slipping consumer confidence in November.

This weaker trend in U.S. economic data seems to indicate that fourth-quarter economic activity may be modestly slower than the strong pace seen in the third quarter. As we progress to the end of the year, economic data will likely indicate economic activity slowing toward a 3% pace, which should carry through in the new year.

Monetary authorities outside the United States have been engaged in stimulating economic activity. The Bank of Japan nearly doubled its planned quantitative easing (QE) plan, the European Central Bank is transitioning from refinancing operations into a modest QE program, and the People’s Bank of China cut interest rates last week. Inflation pressures continue to ease, allowing operating room for global central banks. OPEC’s decision to maintain its current rate of oil output is likely to lead to further deflationary pressure in the global economy.

For more information, go to https://reserve.usbank.com/insights/market-economic-update-12-1-14.

This information represents the opinion of U.S. Bank and is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide specific advice or to be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation. The factual information provided has been obtained from sources believed to be reliable, but is not guaranteed as to accuracy or completeness. The organizations mentioned in this publication are not affiliates or associated with U.S. Bank in any way.

Past performance is no guarantee of future results. All performance data, while deemed obtained from reliable sources, are not guaranteed for accuracy. Indexes shown are unmanaged and are not available for investment.

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