Our view continues to be that US housing weakness will be a major drag on US growth this year but the risk of US recession as a result of the housing downturn is very low.

• 我们仍然认为美国房产业的疲弱将会在今年成为阻碍全美经济增长的主要因素，但由于房地产的低迷而导致美国整体经济衰退的风险很低。