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Outlook: Not Good - In other words......

Mike

Well-known member
Buckwheats plan is not working.
Economists predict weaker growth for quarter
By Paul Davidson and Barbara Hansen • USA Today • July 26, 2010

More than eight in 10 economists surveyed by USA Today have downgraded their economic outlook amid the European debt crisis and a flurry of disappointing reports, but nearly all expect the nation to avoid a double-dip recession.




The quarterly forecast of the 47 economists, conducted July 15-21, was decidedly gloomier than April, when the recovery was gaining steam and most experts were ratcheting up their estimates.
But the turmoil in Europe, along with lackluster job growth, a weak housing market and a slowdown in factory output, have dampened hopes the nation will recover the 8.5 million jobs lost in the downturn at a more-than-glacial pace.
"We need a much stronger recovery, and we're not getting it," Conrad DeQuadros of RDQ Economics said.
About 80 percent of the experts are less optimistic than they were three months ago and cut their growth forecasts. Their median projections call for the economy to expand at about a 2.5 percent clip the second half of 2010, down from 3 percent in April.
Of greater concern: jobs. About 60 percent don't expect the U.S. to regain all the jobs lost in the recession until 2014 or later. Earlier this year, more than half expected those jobs to come back by 2013.
Many economists expect the nation to add more than 100,000 jobs a month the second half of the year. But when figuring population growth, that pace is just enough to keep the 9.5 percent jobless rate from rising. Fifty-four percent of those polled cited weak job growth as the most serious threat to the recovery; 30 percent cited global financial instability.

All together now on three. 1.........2..........3!!!!!!!!!!!!

WE TOLD YOU SO!!!!!!!!!!!!!!!!!!!!!!!!!!! :lol:
 
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