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Greenspan Sees ‘Fairly Pronounced Recovery’ in U.S.
Posted By admin On September 9, 2009 @ 10:01 am In Money Watch | Comments Disabled
Steve Matthews and Millie Munshi
Thursday, Sept 9th, 2009
The U.S. economy will start to pull out of a recession by yearend, helped by “remarkable growth” in productivity and a depletion of inventories, former Federal Reserve Chairman Alan Greenspan said.
“A lot of pieces are falling into place for recovery,” Greenspan said in a speech in New York. He predicted “a fairly pronounced recovery not only in the U.S.,” but globally. “Surprises are on the upside.”
Greenspan last month said the U.S. economy could resume growth with a 2.5 percent expansion in the current quarter, while adding there was still a risk of a “second wave down.”
The world’s biggest economy contracted at a 1 percent annual pace in the second quarter and economists surveyed last month by Bloomberg News predicted growth would average 2.1 percent in the second half of the year.
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URLs in this post:
 Bloomberg : http://www.bloomberg.com/apps/news?pid=20601068&sid=amOV7FO9A_2I
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 Greenspan Sees Threat U.S. Congress Will Hamper Fed: http://www.prisonplanet.com/greenspan-sees-threat-u-s-congress-will-hamper-fed.html
 Greenspan: Recession Still ’50 Percent or More’ Likely: http://www.prisonplanet.com/greenspan-recession-still-50-percent-or-more-likely.html
 Greenspan Says Economy May Be Undergoing a `Pause’: http://www.prisonplanet.com/greenspan-says-economy-may-be-undergoing-a-pause.html
 Goldman Sachs Says U.S. Economy May Be `Fairly Bad’: http://www.prisonplanet.com/goldman-sachs-says-u-s-economy-may-be-fairly-bad.html
 U.S. recovery hopes fade as economic growth dips: http://www.prisonplanet.com/u-s-recovery-hopes-fade-as-economic-growth-dips.html
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