Pace of Economic Recovery in the US is not fast enough
Posted by Stephen Cline on February 10th, 2010There are so many people who are just waiting with bated breath about news of US economic recovery. After over 2 years of financial crisis and job losses, people are just hopeful that the tide will change and something will give, so that there might be some cheer. But it seems as if people will have to wait awhile longer because there are mixed signs and signals that are emanating from the US economy and also from Europe at this point in time. There are no clear cut signals or an outbreak of conclusive optimism to indicate that we are out of the woods in terms of clear cut economic recovery.
Now it seems the OPEC is raising doubts and questions about the pace and extent of economic recovery of the US and the ability of the country to effect a turnaround. It seems there is a great deal of uncertainty about the pace and strength of US economic recovery, which could get reflected in lower than estimated oil demand. The OPEC feels that the level of economic recovery would be a function of the kind of governmental support in terms of economic stimulus package and efforts to stem the tide of unemployment which is at a whopping 10% at the current time.
Tags: economic recovery, UAE