On the face of it, today’s GDP numbers confirmed the US economy ended last year on a decent footing (up 2.8% on annualised basis), even though growth fell short of expectations. However, the pattern of growth was perhaps a little more concerning. Inventory accumulation accounted for nearly three-quarters of the increase in output. Meanwhile, government [...]
US GDP data for the fourth quarter showed that U.S. economic expansion could slow within the coming months. Even though U.S. economy grew its fastest pace in 1 ½ years inside the fourth quarter, strong rebuilding of stocks by businesses and a slower pace of spending on capital goods hinted at softer growth earlier this year. The [...]
The phrase ‘under-promise and over-deliver’ is not one that the EU has any knowledge of, given that not for the first time we are being led to believe (this time by EU’s Rehn) that a deal on the restructuring of Greek debt is near, “if not today, then over the weekend”. There’s little point in [...]