Sunday, September 4, 2011

White House upbeat on US economic growth

The US economy will avoid falling back into recession this year, and instead grow 1.7%, the White House has predicted.

The figures come in the mid-year fiscal budget review by its Office of Management and Budget (OMB).

They show that the Obama administration expects the economy to improve towards the end of the year.

So far, official data shows that the economy grew only 0.4% in the first quarter and 1% in the second.

In the OMB's previous forecast back in February, it predicted that the US economy would expand 2.7% this year, but that had been seen as greatly inaccurate for many months.

'Numerous factors'

The White House is far more pessimistic about reducing the level of US unemployment.

The official unemployment rate was 9.1% in July, and is expected to be similar when August's data is released on Friday.

The OMB said the jobless rate could still be as high as 9% late next year, or at best 8.2%.

With the next presidential election due in November 2012, the issue of tackling unemployment is expected to be one of the key issues.

The OMB said the US economy had been affected this year by high oil prices, the Japanese earthquake hampering supplies for American manufacturers, debt concerns in the European union, and the long political dispute over raising the country's debt ceiling.

As a result, it said "economic growth and job creation, while positive, have not been strong enough to bring down the unemployment rate to an acceptable level".

Yet it added: "Despite recent setbacks, the administration expects the economy to grow at increasing rates in the months and years to come."

Earlier on Thursday, a report by the Institute for Supply Management said the rate of US manufacturing output had slowed in August to a two-year low.

7 comments:

  1. Kumpulan Cerita Dewasa, Nonton Bokep Online, Film Semi dan Kumpulan Foto Bugil ..

    Cerita Dewasa
    Cerita Sex terbaru
    Nonton Movie Online
    Film Semi
    Nonton Movie Online

    Kumpulan Cerita Dewasa, Nonton Bokep Online, Film Semi dan Kumpulan Foto Bugil ..

    Cerita Dewasa
    Nonton Bokep Online
    Film Semi
    Cerita Sex

    ReplyDelete
  2. This comment has been removed by the author.

    ReplyDelete
  3. Jenuh dengan siaran TV?? Gak usah bete ,, klik link dibawah ini dan nikmati filmnya

    Film Bokep
    Nonton Sex
    Movie Terbaru

    ReplyDelete
  4. If mother and father are Obese it is probable that their meals alternatives are unhealthy and its miles Probable that their lifestyle is bad. So from a totally early age their Kids are being subjected to that same dangerous way of life. https://fitnesssoultions.com

    ReplyDelete

  5. Amazon Prime is a video administration stage that permits clients to watch video content on their real-time players. Individuals can watch Amazon Prime films and arrangements on Chromecast, Amazon Fire TV, Roku, and other streaming players. They should straightforward enact their Prime participation by visiting www.amazon.com/mytv with the assistance of the initiation code they get from the TV screen.
    Read more…

    ReplyDelete
  6. www.amazon.com/mytv enter code.: Are you facing problem to sign in amazon prime video in your tv? Just follow easy method to register www amazon mytv prime video on your TV or device.

    ReplyDelete