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(Reuters) - Australia's Westfield Group is not expected to snap up any assets from the collapse of General Growth Properties Inc. despite its cash pile of nearly $6.5 billion, due for uncertain outlook for the U.S. economy and the global credit store.

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Westfield been recently looking to acquire distressed assets since late last year but has not struck any deal despite sharp falls in industry prices around the globe.

"If we continue to obtain really strong economic numbers and bearish inflationary numbers along by using a hawkish Fed, and if we see an extensive correction overseas, then we could see a correction here," Ryan, Beck & Co's Suskind told MarketWatch.

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