I think Friday’s GDP report out of the US will come in less than 2.6% expected and I would not be shocked to see it much closer to 2.0%. I also think that Q1 GDP for the US will be less than 2.0% and while we are not close to a recession GDP growth is contracting which is not a good sign. I would not bet on it to recover and think the 2014 GDP will come in less than 2.0%.
You called it right Rambo, it was revised down to 2.4% from the initially reported 3.2% and almost half of the third-quarter’s 4.1% GDP growth rate. The US is not nearly as strong as most have hoped for.