GDP Rate Revised at Slower Growth Rate, State Manufacturing Reports Disappoint

US gross domestic product rose by an annualized rate of 2.2% during the final quarter of 2014, slower than the 2.6% previously reported.

Some recent manufacturing reports from various states also indicate an industry growing at a lackluster rate. For instance, the Empire State, Dallas and Milwaukee manufacturing reports came in below expectations.

Airbus, however, plans to boost its manufacturing of its narrow-body, single-aisle A320 jet. The plane maker plans to make 50 of the jets a month beginning in 2017 compared to the 42 it produces a month currently.

The Senate passed a spending bill this morning that provides funding for the Department of Homeland Security, which could help the agency avoid a total shut down tonight as it runs out of money. The bill now moves to the House.

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