Don’t be too quick to celebrate latest US economic data
There might not be a crash landing for the US economy, but it’s certainly too early to say it is safely back on the tarmac. Much depends on jobs and spending this year.
Washington | The latest US growth figures have most economists cheering that the economy has safely avoided a recession. However, they may be jumping the gun: there is still a chance it happens in the next 18 months.
There was excitment following the release of fourth-quarter GDP figures on Thursday (Friday AEDT) showing the economy expanded at an annualised 3.3 per cent because they showed growth was better than economists had forecasted.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
