Breaking News

Poll: Economic Growth Seen Anemic

November 27, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON (Reuters) - The U.S. economy looks set to log anemic growth this quarter and faces a "slow slog" through the winter months, according to a closely watched survey of economists released on Tuesday.

The economy should manage to sidestep a renewed recession, helped by a half-percentage-point cut in interest rates from the Federal Reserve earlier this month, said economists surveyed by the National Association for Business Economics.

Political tensions linked with the Middle East -- including possible new attacks or a potential U.S. conflict with Iraq -- pose the greatest hazard to the economic outlook, according to one-third of the 33 analysts polled.

"Unresolved economic problems, specifically a hangover from the late 1990s investment bubble plus the need for families to rebuild their savings, are likely to keep U.S. growth below a 3 percent rate through the first quarter of 2003," NABE President Tim O'Neill said in a statement.

"Inflation risks remain minimal," O'Neill, who is also the chief economist for the BMO Financial Group, added.

The survey said growing evidence that the economy lost momentum in the last few weeks of the third quarter led analysts in the survey to trim growth expectations for the final three months of this year.

Economists now expect gross domestic product, total output within U.S. borders, to grow at a rate of just 1.4 percent in the fourth quarter, versus an expansion rate of 2.7 percent predicted for the same period in the survey two months ago.

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 2013 Experience Convention & Trade Show

A look back in photos at the 2013 Experience Convention & Trade Show in Las Vegas.

THE MAGAZINE

ICS Cleaning Specialist Magazine

cover_image

2014 April

Take a look at the April 2014 issue with features on air movers, going green, carpet cleaning and new products & technologies.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

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

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

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

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo