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GDP and ADP

Before the Fed takes the spotlight, The Bureau of Economic Analysis' released GDP numbers and ADP released private payrolls numbers.  

First, the bad news, GDP growth slowed to 0.1% in the first quarter of 2014.  This is way below the expectation of 1.2% growth.  Obviously most economists will point to the unusually bad winter weather.  There was one bright spot however; Personal Consumption grew 3% which is above expectations of 2%.  

Now the good news, ADP private payrolls were up 220,000 beating expectations of 210,000.  Below are charts of how the numbers broke down.  Friday we will get a better idea of how the job market is doing when the U.S. Bureau of Labor Statistics releases their numbers.