SCOREBOARD: US advance

The latest data suggests things are looking up for the US, although markets may be cautious ahead of the next jobs figures.

One of the most important things we learned over the weekend is that the US economy is strong. GDP rose about 2.5 per cent in the first quarter of 2013, which was below the expected of 3 per cent, so it doesn’t look great with a casual glance. Thing is, 2.5 per cent is actually a good, above-trend result, and even better than that, the figure hides what is in fact much stronger growth momentum.

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