Experts Say Economy to Recover in Q3

Signs of Slight Recovery Seen by Analysts

Summary: A recent survey conducted to economic analysts and forecasters showed that the United States economy has shown signs of strong comeback and is expected to jump start major growth in the third quarter of 2009 while the country’s unemployment rate is projected to increase in the first quarter of 2010.

A recent survey conducted to top forecasters showed that the US economy has shown signs of strong comeback and is expected to jump start major growth in the second half of 2009 while the country’s unemployment rate is expected to peak in the first quarter of 2010.

The survey, released by Blue Chip Economic Indicators on Sunday, showed that majority of the panel forecasted a 2.8 percent decrease in the country’s real gross domestic product for this year. However, the forecasters also said that a major growth of 1.9 percent is expected in the first quarter of 2010.

According to the newsletter, the panelists also said the economy will begin to show signs of relief by the second quarter this year and will resume posting significant increase in the third and fourth quarter.

Meanwhile, the jobless rate has now begin to reach its peak and started to slow down in a record setting four straight weeks despite continuous volatility of the manufacturing sector. In the May survey, forecasters said that the jobless rate will peak at 10 percent by 2010, around (.2) percent higher than April’s projection.

On the other hand, the housing industry will experience slight recovery as workers start new purchases by year’s end, according to 80 percent of the panelists.

Experts Say Economy to Recover in Q3

Signs of Slight Recovery Seen by Analysts

Similar Articles

COMMENT

Recent Articles

Recent Business News

Popular News