The final reading for third quarter GDP showed that the U.S. economy grew by 3.1%, coming in above the second estimate of 2.8% reported in November. By comparison, we saw 3% and 1.6% growth in the second and first quarters of this year. Economic activity in the third quarter was driven by consumer spending, exports, federal government spending and business investment. Meanwhile, November’s Retail Sales came in stronger than forecasts, boosted by car sales and online shopping. Sales in October were also revised higher. And the latest weekly unemployment claims (Initial -22K to 220K; Continuing -5K to 1.874M, near a three-year high) show the ongoing trend in the labor market continues. Employers are holding on to their workers while also slowing down hiring.