Early Friday afternoon, Barack Obama took the stage at the White House briefing room to announce that the US unemployment rate had dropped below 5% for the first time since February 2008.
The global economy seems trapped in a "death spiral" that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi has warned.
Hindsight is a wonderful thing.
The US economy added 151,000 jobs in January while the unemployment rate dropped to 4.9%, the US Department of Labor announced on Friday.
The prospect of a UK interest rate rise receded further into the distance after the Bank of England voted unanimously to keep borrowing costs at their record low and cut its forecasts for growth, wages and inflation.
Much of the world economy is grappling with huge challenges which are causing risks to European growth to increase, the European Commission has said.
Analysts at Goldman Sachs are warning that sterling could fall by up to 20% if Britain votes to leave the European Union.
Consumer confidence in the UK has dropped for the first time since 2013, according to survey figures published this morning.
The economy has had a sluggish start to the year, a business lobby group has said.
Britain’s economy will grind to a near standstill over the coming months as post-referendum uncertainty triggers a slump in business investment, a leading business group has warned as it slashed its growth forecasts.
Fears of a post-referendum recession have receded further after a rise in exports and a better month for the struggling construction industry buoyed hopes that the UK economy has continue to grow since 23 June.