Happy Holidays from Voya Global Perspectives

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Santa sure delivered on GDP. The US economy grew at a 5 percent real annual rate in the third quarter, up significantly from the estimate of 3.9 percent. This third quarter rate is the highest pace of US growth in 11 years and was due to an unexpectedly strong revision in consumer spending. Business spending also kicked in and was revised higher with fixed nonresidential investment in structures up 4.8 percent pace in the third quarter and contributing 1.1 percentage points to the quarterly growth rate.

Another reason not to pout – after the latest rally the fourth quarter market returns are now the best of the year. As of 12/22 the S&P500 is up 5.9 percent for the quarter and 14.7 percent for the year. The season looks merry and bright. Ho Ho Ho!

Happy Holidays from Voya Global Perspectives!

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