Economists cut U.S. growth forecast again

September 9, 2010 05:44


Its the economy stupid!   – Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists. (Reuters)

From Reuters.com

EXCERPTS:

‘The latest Blue Chip Economic Indicators report on Thursday said the weaker outlook for second-half 2010 growth stemmed from lower expectations for consumer spending, business investment and private construction.

“Growth in the current quarter now is expected to be little better than the disappointingly soft advance registered last quarter,” the survey said. Gross domestic product grew at a meager 1.6 percent annual rate in the second quarter, less than half the first quarter’s 3.7 percent rate.’

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