SCOREBOARD: Growth clipped

US GDP came in lower for the fourth quarter, but Wall Street falls weren’t of a magnitude to suggest any panic.

That US GDP fell 0.1 per cent in the fourth quarter is going to alarm some I realise. I haven’t checked the full span of commentary but it won’t surprise me one iota to see the double-dip call. I’ve learned to live with it. Now it’s not a great number and I’m not going to pretend it is, but as always we need to try and determine whether this number really does reflect momentum. Or a change in it.

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