According to Reuters news service, private economists are saying the worst of the economic crisis is over. They estimate that the unemployment rate will most likely reach 10% in early 2010 and then drop very slowly over the remaining portion of the year.
They also foresee gross domestic product to expand at a 3.0% annual rate in the third quarter of 2009 and rise 2.4% in the fourth quarter. Lastly, they cite the economic growth taking place in the second half of 2009 as being due to restocking inventories that have reached record lows, a modest rebound in consumer spending, and improvements in residential investments.
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