No Light At The End Of The Tunnel

The latest US macro economic news reported early Friday morning, showed how bad the economic environment is. The gross domestic product fell 6.2% in the fourth quarter, a contraction that surpassed the previous estimates and that was the most severe since 1982. The fall in consumption, production and exports were the factors most penalized. Forecasts advanced surpassed for a large margin the estimates of 5.4% of economists consulted by the news agency the U.S., with the largest contraction since 1982.

The drop in consumer spending, representing about 70% of the country’s economy, recorded the largest decline in almost three decades, which severely penalized the performance of the GDP. The production and exports also decreased in the fourth quarter.

This is a clear indication that U.S. is in a deep recession without signals of improvement. No light at the end of the tunnel.

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