- Prison Planet.com - http://www.prisonplanet.com -
Economy Expected to Have Major Slide in Months Ahead
Posted By admin On June 26, 2011 @ 3:10 am In Featured Stories | Comments Disabled
The New York Times 
June 26, 2011
A drumbeat of disappointing data about consumer behavior, factory sales and weak hiring in recent weeks has prompted economists to ratchet down their 2011 economic forecasts to as little as half what they expected at the beginning of the year.
Two months ago, Goldman Sachs projected that the economy would grow at a 4 percent annual rate in the quarter ending in June. The company now expects the government to report no more than 2 percent growth when data for the second quarter is released in a few weeks.
Macroeconomic Advisers, a research firm, projected 3.5 percent growth back in April and is now down to just 2.1 percent for this quarter.
Both these firms, well respected in their analysis, have cut their forecasts for the second half of the year as well. Then this week, the Federal Reserve downgraded its projections for the full year, to under 3 percent growth. It started the year with guidance as high as 3.9 percent.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/economy-expected-to-have-major-slide-in-months-ahead.html
URLs in this post:
 The New York Times: http://www.cnbc.com/id/43534613
 Image: http://www.stansberryresearch.com/pro/1103PSIEOAVD/PPSIM375/PR
 Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/
Copyright © 2013 PrisonPlanet.com. All rights reserved.