US recovery comes out of hibernation

After catching a winter cold US household spending and labour market figures are turning around. And it seems it will take more than a bit of bad weather to stop the Fed pressing ahead with the taper.

Household spending and the labour market are back on track in the United States, after a couple of weather-related hiccups. The next step: another $US10 billion taper when the Fed meets next week.

Retail spending in the United States rose by 0.3 per cent in February, slightly above expectations, to be 1.5 per cent higher over the year. This followed two consecutive monthly declines on the back of particularly poor winter weather.

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