Barclays has revised down its forecast for US growth in the first quarter from 3.5 per cent to 3.2 per cent. This still thumps expectations that the UK might see growth of only a tenth of a percentage point this quarter.
However concerns loom that the growth the US is experiencing is illusory. The Fed has taken a very dovish policy stance with loose monetary policy. Easy money could simply reinflate the last boom the US saw, rather than allowing entrepeneurs to reallocate capital towards more productive purposes.