US Economy On A Low Note
Posted by Stephen Cline on July 15th, 2010
The US economy has successfully overcome the recession that rocked the world months ago. However, since that high note, the US economy has again gone low on its curve. The incredibly slow pace of growth is surely enough to think about the durability of the recovery once again. The drooping economy is sure to make news for all the wrong reasons in the weeks to come. This slowdown is going to be a primary concern in the hectic week of US economic data. The financial policies will strictly be noticed in the process.
Contrary to the popular fear, the US economy may not see the dark days it saw before.
The week starts with the congress returning from the break. Now it is going to deal with the bank reform and Kagan nomination. This week includes reports from major companies like Citi, AMD, GE, Bank of America and Google.
According to John Silvia, the US economy will continue to grow this summer in spite of the slowdown. Silvia, the chief economist at Wells Fargo Securities, forecasts one of the lowest growths for the latter half of the year, i.e. 1.6%.
The coming week will see three major reports on inflation. All three of them are expected to show minor inflation while keeping low rates for the maintenance of overall growth. June was a month when the prices of imports and wholesale dropped while the consumer prices remained flat.