Cleaning & Restoration Breaking News

US economy set for second-half recovery-Fed survey

NEW YORK, June 20 (Reuters) - The U.S. economy is still set for a pick-up in the second half of this year and unemployment will gradually decline over the coming year, a regional Federal Reserve Bank survey said on Friday.

A semiannual survey of 30 private-sector and academic economists conducted by the Federal Reserve Bank of Philadelphia predicted the world's largest economy will grow by 3.5 percent in the second half of 2003, only a tad softer than the 3.6 percent forecast of the previous survey.

Next year, forecasters across the nation see a further strengthening to a 3.8 percent growth rate, which would be slightly above the economy's long-term trend and help to gradually bring down the jobless rate.

"In the forecasts, the unemployment rate is expected to decline from 6.1 percent in June 2003 to 5.9 percent in December 2003 and 5.7 percent the following June," the Philadelphia Fed said.

Those forecasts are higher than in the last survey, when the unemployment rate was seen declining to 5.5 percent by December 2003.

The Livingston Survey is the oldest continuous survey of economic forecasts, launched in 1946. The Livingston forecasts are roughly in line with other surveys of U.S. economists who generally see the economy accelerating from an anemic growth rate in the first half of this year to more solid growth in late 2003.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view