PARIS (Reuters) - One month of improved data does not constitute an economic recovery and recession in the United States will last for at least a few more months, Atlanta Federal Reserve President Dennis Lockhart said on Thursday.
New orders for long-lasting U.S.-made goods rose in February for the first time in seven months and new home sales rebounded, government data showed on Wednesday.
"I would always caution that one month does not make a recovery so we have to be careful not to react too strongly to one month," Lockhart told Reuters on the sidelines of a food conference in Paris.
He said he had seen very few signs of a U.S. recovery.
"Most of the data that we follow appears to signal a continuing recession, at least a few more months," he said.
Asked whether the outlook had improved since the Fed's last policy meeting, he said: "I think it's premature to say that." more...
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