U.S. Q4 GDP +2.3% Matches Forecast, Jobless Claims Rise to 242K

U.S. economy grew by 2.3% in Q4 (second estimate), matching expectations. Initial jobless claims rose to 242K, higher than the expected 221K, while continuing jobless claims stood at 1.862 million, slightly below the forecast of 1.87 million.

U.S. economy grew by 2.3% in Q4 (annualized), matching estimates and the previous reading. Personal consumption rose 4.2% (vs. 4.1% expected). The GDP price index increased to 2.4% (vs. 2.2% est.), while the Core PCE price index rose to 2.7% (vs. 2.5% est.).

Yields on U.S. Treasury notes rose after the GDP revision and jobless claims data. The 10-year yield increased by 3.6 basis points to 4.285%, while the 2-year yield climbed 1.8 basis points to 4.09%.

Developing story, stay tuned for the updates.