Goldman sees downside risks to their Q1 US GDP estimate
Goldman sees downside risks to their Q1 US GDP estimate of +3-1/2%, "with weak personal consumption and capital goods orders in January, as well as fairly sluggish growth in hours worked in Q1 so
far." But those are likely to reflect weather distortions. Goldman sees issues ahead of higher oil and fiscal restraint, says "maximum impact of oil on growth occurrs with a lag of 3-4 quarters, which would point to
a peak impact in late 2011." JPM says data are turning mixed and they also are trimming forecasts.