While the downward revision to Q4 GDP and the sharp fall in “core” household spending in January suggest that the economy faired a little worse than initially reported over the winter, we continue to expect the economy to avoid a contraction this quarter and to rebound strongly later in the year. Meanwhile, wage growth improved sharply in January and should recover into positive territory soon.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.