GDP Confirms US Rebound is Over |
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By: The Conference Board Posted: 2010-07-31 07:00:17 |
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The post-recession rebound is history. We don't foresee a double-dip, but we do expect growth to slow even more markedly, to a 1.6-percent annualized rate in the second half of the year. The expected drop in government spending will be compounded by continued weakness among consumers and business – signaled by both The Conference Board Leading Economic Index® (LEI) for the United States and The Conference Board Consumer Confidence Index®. Such a slower pace is unlikely to sustain strong profit growth, and would also weigh on employment and wages."
Bart van Ark Chief Economist The Conference Board About The Conference Board The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. |
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