- 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

Motokoa Rich
The New York Times [1]
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.

Full article here [1]

Economy Expected to Have Major Slide in Months Ahead 030511banner3 [2]

Stock up with Fresh Food that lasts with eFoodsDirect (AD) [3]

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:

[1] The New York Times: http://www.cnbc.com/id/43534613

[2] Image: http://www.stansberryresearch.com/pro/1103PSIEOAVD/PPSIM375/PR

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] 20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead: http://www.prisonplanet.com/20-signs-that-the-u-s-economy-is-heading-for-big-trouble-in-the-months-ahead.html

[5] Britain will be the ONLY major economy to fall into recession this year, experts claim: http://www.prisonplanet.com/britain-will-be-the-only-major-economy-to-fall-into-recession-this-year-experts-claim.html

[6] IMF Predicts Global Economy Heads for `Major Downturn’ in 2009: http://www.prisonplanet.com/imf-predicts-global-economy-heads-for-major-downturn-in-2009.html

[7] U.S. Economy May Shrink 1.5% in 2009 as Recession Stymies Fed: http://www.prisonplanet.com/us-economy-may-shrink-15-in-2009-as-recession-stymies-fed.html

[8] Stocks Slide on Economy Concern; Yen, Dollar, Treasuries Gain: http://www.prisonplanet.com/stocks-slide-on-economy-concern-yen-dollar-treasuries-gain.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.