The revision for Gross Domestic Product is out and investors need to keep in mind that this is the third look at the fourth quarter GDP for 2011.  Bloomberg had a consensus target of 3.0% growth and that was flat with the previous revision.  Today’s number came in at 3.0%.  CNBC was talking up expectations on Wednesday and Dow Jones had a consensus estimate listed of 3.2%.

If you include the PCE Price Index, GDP was really up 1.2% according to the Commerce Department.  For all of 2011 that was 1.7%.

While this is being called a disappointment, this was the final revision and it should be fully reflected into the markets by now as the data is nearly 90-days old and covers the period from 90 to 180 days ago.

It is impossible to call this impressive growth.  Still, it is above the red-line and that keeps the recession mongers at bay for another couple of quarters at a minimum.

JON C. OGG

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