Economists Believe US Economy Will Rebound in 2nd Half
Despite the weakening condition of the US economy in the first few months of 2009, economists believe that it will recover and become more stable during the second half of the year as investment and consumer spending will be stronger and will consequently trigger higher economic growth in the country.
Economists believe the US economy will recover in the second half of this year as consumer spending and business production are expected to be higher, according to a recent survey released on Tuesday.
According to Blue Chip Indicators, economists and analysts have unanimously agreed that GPD growth in the third quarter of this year will grow as consumer spending and housing investment are expected to grow stronger for the next few months.
The survey, which sought the opinion of economic analysts, said that first quarter is expected to slump to more than 5 percent followed by 2 percent decline in the second quarter. Meanwhile, there is a consensus that the second half will be a time when the economy will recover, as growth will jump to 0.5 percent followed by fourth quarter’s 1.8 percent growth.
The analysts also warned people to brace themselves for the first half of this year as there will be a dramatic decline in business activities, housing investments, and consumer spending. On the other hand, experts said that consumers will start to spend more in the second half as they will enjoy financial incentives including tax cuts and lower energy cost.
Another incentive for consumers is the less stringent credit condition, further driving them to spend their money.
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