The US economy is progressing on the data front with core economic metrics still pushing to the upside and, in confirmation of past trends (see Plucking article), appears to be doing so at a broad based level.

GDP Revision, check – GO

Q4 2010 GDP figures have been reviewed to the upside with a slight push-up to the 3.1% mark.

Real GDP Above 2007 peak, check – GO

The US Economy is now holding and pushing above its 2007 peak for a reading a tad above $13.38 Trn (chained 2005 dollars).

Total NFP figures firming, check – GO

A further 216k jobs added over the past month. A little bit more per month would assist in matching adult population growth and a still distressed participation rate.


DC, Do We Have Lift-Off?

Again, the performance is good so far but the US front line remains with its unemployed. This is both a worry from a confidence perspective but also a boon from a core-inflation outlook. Labour market spare capacity is, fortunately, not pressuring core wage metrics just yet.

The year is still beginning but, on the bright side, Spring is coming. The odds favour warmer days ahead.

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