UNITED STATES

摘要

Data from the final month of 2012 paint an interesting picture of household and business activity ahead of the "fiscal cliff" which was initially expected to come into effect on January 1, 2013. The Q4 national accounts revealed that GDP declined by 0.1 % in annualized terms, compared with a +3.1 % acceleration in Q3. This was the first such contraction since the 2009 recession and was due largely to defence cuts that came into effect after September 30 and the onset of a new fiscal year. GDP was also buffeted by falling exports, a reversal in business inventory growth and shutdowns caused by Hurricane Sandy on the East Coast.