This past weekend, temperature highs in our area hovered around 50 degrees and many claimed Punxsutawney Phil was wrong; spring was on its way! Then, BOOM! We were hit with two storms in 48 hours that brought us back to reality. It was as if Old Man Winter pulled a Mohamad Ali “Rope-a-Dope” strategy, knocking us back into twenty-degree weather and sending an ice storm that is causing on-going power outages for almost half a million customers that are expected to last until at least Sunday (when we are expected to be hit with another huge Nor’easter).
Is our fifty degree pseudo-fantasy experience a metaphor for the economy? Q4 2013 GDP grew 3.2%, with many economists predicting this trend to continue, but will we be “Rope-a-Doped” back to sub-2% GDP growth in this Winter Quarter?