Recent economic and leading indicators ease concerns of a renewed US recession | Eurobank
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Recent economic and leading indicators ease concerns of a renewed US recession

• After a fairly negative picture of the US economy over the past few months, recent US data have been marginally stronger than expected, calming investors and easing risks of a return to outright recession.
• Consumer sentiment seems to have stabilized -albeit at low levels- and manufacturing surveys have improved, pointing to subdued but steady growth in industrial production ahead.
• The temporary drag from elevated energy prices and supply chain disruptions is gradually fading, leading to a rebound in H2 2011. Key for the momentum of the US economy will be developments in the US labor market.
• We continue to expect below-trend growth through next year, averaging at around 2.0% from 1.6% in 2011.