More US economists are coming out to ‘admit they were wrong’ about suggesting recession

The Australian’s Washington Correspondent Adam Creighton says more US economists are coming out to “admit they were wrong” about suggesting the country was entering a recession. “The latest figures show the job market is still booming, layoffs have been declining, consumer spending is very high,” he told Sky News Business Editor Ross Greenwood. “Just this week of course they upgraded GDP growth for the first quarter from 1.3 to 2 per cent, that’s a very large upward revision.”