The chief U.S. economist at investment bank Goldman Sachs said on Friday that he still feels positive about the domestic economy.
“If you look at what’s going on in the economy on the basis, not just of a bean count, but also surveys of business activity, it still seems that the economy is fairly healthy,” Jan Hatzius told CNBC Friday.
Hatzius noted that even though market watchers have seen weakness in durable goods orders, personal consumption and housing starts, those pullbacks haven't been enough to warrant a downgrade of economic forecasts.
What would trigger a downgrade, the Goldman executive said, would be a significant increase in oil prices and some of the other numbers that come out before the first estimate of the GDP number in a month, and if personal consumption, for instance, fails to rebound in February. The latter number is due Monday.