Afternoon Coffee: US Economy Expands in Fourth Quarter, Oil Prices Make Gains This Week


The latest GDP data was released this morning, showing the US economy grew 2.2% during the fourth quarter. Consumer spending also rose 2.5%, the biggest gain since 2006.

Oil prices seem to be rebounding from their 6-year low hit earlier in March. Oil prices are seeing their second straight week of increases with US crude hitting $50.03 today.

Scotland’s oil and gas supply chain also is expanding at record pace. While not a top oil producing nation, Scotland’s oil supply grew 11% in 2013, new data shows, and the sector hit record sales of more than $7.6 billion.

Mercedes-Benz is entering the pickup truck market. The luxury carmaker announced it will be producing a mid-size pickup truck, but that it would first be sold in Europe and on other continents but not the US.

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