Crunch time for the US economy

Following massive liquidity injections, the financial sector is struggling to squeeze the genie back into the jar - and in so doing there will be pain for everybody, says Jeremy Batstone-Carr.

Last week we concentrated on the outlook for domestic UK economic activity ahead of the release of the first stab at UK real gross domestic product (GDP).

This week the markets face an even sterner test with the release of a swathe of important first line economic data in the United States including the all important first estimate of that country's real GDP, coupled with base rate decisions from the Federal Reserve and the Bank of Japan.

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