THE ECONOMY.(TO THE POINT)

Q4 GDP might be revised higher

Canadian imports of U.S. goods may have been understated by $1 bil. That could push the Commerce Dept. to revise U.S. Q4 GDP growth -- released just last Friday -- from a 3.1% annual rate to as high as 3.5%. That's what economists had initially expected.

** Canada's GDP rose 0.2% in Nov. after a flat Oct., Statistics Canada said. The economy grew 3.2% vs. a year earlier.

** German wholesale sales fell a real 2.9% in Dec. while Nov. sales were revised up to -0.1% from the -0.6% initially reported, said the Federal Statistical Office. Q4 wholesale sales fell 2% vs. Q3.

** European Central Bank interest rates are on hold for the near future, sources tell Market News, but there is a consensus that rates will likely need to be raised later in '05 when there is more evidence of a strengthening euro zone economy.

** A European business confidence index for the 12 euro-using nations fell to a seven-month low in Jan. as that currency's strength hurt the ...