Asia Bizz: US Economy Growth Forecast For The Year Down Again For The Third Month: Economists
US economy has been projected to be down for the rest of the for the third month in a row by a panel of 50 economists. The Blue Chip Economic Indicator reports stated that the economy status of America for the year’s second half will not be improving overall as it is revised low for the third month in a row.
Fault lines in the economy are in the consumers spending, business investment and private construction. There is a bit positive growth in the current quarter and it has been better than the advancement in the last quarter. US GDP grew to 1.6% for the second half of the year, which is less than half of the 3.7% registered in the first quarter.
But according to the economists, the improvement seen in the mid year has a different scenario and also gives a sigh of relief, which shows some promising signs for the second half of 2011. But for the year 2010, there will be no relief for the economy as the down trend will continue.