The Superbowl is behind us, as are the depths of Winter. In many ways the year really starts now that January is behind us and the plans for the year are set. As we have come to expect since the real depth of the latest downturn, January 2010, there is good news always tempered with not so great news.
Jobs are growing, yes, but the shock was the downturn in GDP growth in 4Q12 – a 0.1% annualized loss. Most analysts who didn’t see this coming (your humble writer included) expect this was due to uncertainty in Washington, a result that sounds like a cheap excuse. But it’s all we have given that there really is no reason to expect that things are continuing to slowly, ever so slowly, improve.