There was a weak March quarter result for growth in output, which most observers attribute to temporary factors, though it remains to be seen just how robust the return to growth has been since. The significance of a healthier US economy is two-fold.
One element is that the expectations of many business people around the world, including in Australia, still tend to take a cue from the tone of US business. The second is that, at some point, US monetary policy will begin to adjust to improved conditions.