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White House says fiscal cliff could cut real GDP in the US by 1.4%

- Warned consumer Spending could be limited during the holiday season.

Analysis details (11:02)

- The 'fiscal cliff' refers to a series of automatic spending cuts and tax increases which are due to take effect at the end of 2012 and early 2013. The measures are set to automatically slash the federal budget deficit by USD 607bln or approx. 4% of GDP between FY 2012 and FY 2013

26 Nov 2012 - 11:00- Economic Commentary- Source: Newswires

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