Pimco Co-Chief Executive, Mohamed El-Erian, stated on CNBC today, that first quarter growth could be a surprise to the downside."I think people are going to be surprised that the first quarter, which was initially thought to be a four percent quarter, may end up two percent or below," he said. "I don't think we are near a recession but I think we are weakening," El-Erian said. "Watch the housing market. I think the housing market is again key. It won't go away."
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