DRI/WEFA Is Cautious About U.S. GDP Growth

Jan. 13, 2005
By John S. McClenahen Even as some other economic forecasters -- such as Merrill Lynch & Co. and UBS Warburg LLC -- are raising their estimates of GDP for the calendar quarter that ends next week, Lexington, Mass.-based DRI/WEFA is cautious. It's ...
ByJohn S. McClenahen Even as some other economic forecasters -- such as Merrill Lynch & Co. and UBS Warburg LLC -- are raising their estimates of GDP for the calendar quarter that ends next week, Lexington, Mass.-based DRI/WEFA is cautious. It's estimating third-quarter GDP growth at just 2.6%, compared with the 3% -- or higher -- estimates of the others. "Over the next several quarters, growth will be held back by weak investment," DRI/WEFA says in its latest forecast report. "At the present time, a considerable amount of capital sits idle; more is not being used to capacity," its economists say. Nevertheless, the forecasters believe that the U.S. economic recovery from the 2001 recession "still has legs." They state: "Consumers are spending a bit more cautiously than earlier in the year, and businesses see little reason to hire or invest, but the story is one of slower progress, not relapse into recession."

Popular Sponsored Recommendations

How Technology is Reshaping Manufacturing: Trends in 2024 and Beyond

Feb. 26, 2024
Explore how technology reshapes manufacturing in our webinar. Uncover solutions to operational inefficiencies, talent shortages, and sustainability challenges. Transform obstacles...

SEC Cybersecurity Rules: What’s Your Regulatory Risk?

Feb. 27, 2024
Join us for an insightful exploration of the evolving cyber threat landscape, SEC rule implications, and collaborative strategies to secure critical IT and OT networks in the ...

Power Your Facilities with a Wind Turbine and Save Big!

Jan. 22, 2024
Discover how the Inflation Reduction Act makes wind turbines a savvy investment for businesses and facilities. Unlock substantial savings and a greener future with EWT's cutting...

The Customer Is Still King! Improving Service to Maximize Revenue, Reduce Costs, Boost Loyalty!

Feb. 26, 2024
Join this webinar to learn how to deliver frictionless customer service (CX) amid changes to supply chains, unpredictable buyer demand, and the adoption of automation and AI.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!