2010-02-26 today's data

The Commerce Department reported real gross domestic product for the fourth quarter came in at 5.9%, which is a 0.2% upward revision from the preliminary number reported in January. The report stated the acceleration in real GDP, which increased 2.2% in the third quarter, reflected a slowdown in the rate at which business drew down inventories. Despite the increase, real GDP for 2009 declined 2.4%.

In other news, existing-home sales in decreased 7.2% to a seasonally adjusted annual rate of 5.05 million units in January from a revised 5.44 million in December. However, sales remain 11.5% above the 4.53 million-unit level in January 2009. The national median existing-home price for all housing types was $164,700 in January, which is unchanged from a year earlier, even though distressed homes distort the median price.