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Reuters Pushes For More Stimulus – Again

From a stimulus promoting Reuters:

Economists cut U.S. growth forecast again

Thu Sep 9, 2010

WASHINGTON (Reuters) – 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.

Which would be even more troubling if the Reuters panel of economists were ever right.

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.

But the economists’ group said that, after the mid-year soft patch, it saw a gradual improving trend setting in with growth slightly surpassing trend rate in the second half of 2011.

Prosperity is always just about the corner.

Blue Chip defines GDP trend growth at about 2-3/4 percent a year.

Growth that was called a ‘recession’ during the Bush years.

Its consensus forecast for real GDP growth in 2011 was cut by 0.3 of a percentage point from a month ago to 2.5 percent

Its consensus forecast is that the U.S. unemployment rate will end this year at 9.6 percent and fall only to 9 percent by the end of 2011

Once again we have to ask why the long faces from our erstwhile optimists?

It has to be that Reuters, along with the rest of the Democrats’ media operatives, is pushing for yet another ‘stimulus.’

This article was posted by Steve on Thursday, September 9th, 2010. Comments are currently closed.

One Response to “Reuters Pushes For More Stimulus – Again”

  1. untrainable says:

    They forgot to use the word “unexpectedly”.


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