Q4 2012 GDP
Q4 GDP advance “surprised” the majority of economists who had predicted 1% growth, down from 3.1% in Q3. There was a double whammy as they missed not only the rate of change but also the direction when the economy printed (0.1%) for Q4 2012. This is the first estimate and there are more revisions to come. So you cannot say definitively the economy is entering recession. Nor can you say this contraction in Q4 will remain.
And many economists were quick to jump on that hope. Quick to jump on the positives, while explaining why the negatives