Forecasting Firm Expects U.S. Recovery To Get Under Way Soon

Jan. 13, 2005
By John S. McClenahen Add DRI/WEFA to those now expecting the U.S. recovery from recession will come sooner rather than later. Recovery could be under way next month, although it's likely to be three to six months old by the time the National Bureau of ...
ByJohn S. McClenahen Add DRI/WEFA to those now expecting the U.S. recovery from recession will come sooner rather than later. Recovery could be under way next month, although it's likely to be three to six months old by the time the National Bureau of Economic Research certifies that the recovery has begun, says the Lexington, Mass.-based economic forecasting firm. "Although we expect three quarters of negative real [inflation-adjusted] GDP growth, the total peak-to-trough drop is expected to be only 0.8%, well below the average postwar decline of 2.3%," says DRI/WEFA. Its forecasters figure that GDP contracted at an annual rate of 1.1% in the third quarter of 2001 and at a 1.7% rate in the fourth quarter of last year. DRI/WEFA expects GDP to decline at a 0.5% annual rate in the current calendar quarter, but then to turn positive. It anticipates a 2.1% annual rate of growth in GDP in the second quarter of 2002, 3.2% in the third quarter and 5.4% in the fourth quarter of this year.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

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