Skip to comments.US economic recovery is tepid, says IMF
Posted on 07/03/2012 9:22:59 AM PDT by NormsRevenge
The US recovery "remains tepid", according to the annual report from the International Monetary Fund (IMF).
It has cut its growth forecast for the US economy to 2% this year from an earlier estimate of 2.1%.
The IMF warned of risks from the eurozone debt crisis and uncertainties surrounding domestic policies, with an election in November and the debt ceiling needing to be raised in 2013.
But it said there was also a chance that the economy could recover faster.
The IMF said non-financial firms could invest more than expected and the housing market recovery may accelerate.
Its report said that "house prices have stabilised recently, but remain at depressed levels".
The most recent official figures have shown that the US economy grew at an annualised pace of 1.9% in the first three months of 2012.
Last month, the US Federal Reserve cut its forecast for economic growth in 2012 to 2.4% from 2.9%.
It suggested that the federal budget could be cut by less than planned by President Obama in February.
The IMF also said that spending should be made as "growth-friendly" as possible, with investment in infrastructure, training, housing initiatives and an extension of emergency unemployment benefits.
(Excerpt) Read more at bbc.co.uk ...
When are the Democrats and their newsroom mouthpieces going to give up on using the silly word “recovery”?
It’s embarrassing. Or, at least, it is to anybody with any shame.
We have never ever been in a recovery. As a matter of fact live has gotten more difficult for most working Americans.
What recovery? Only in the mind of the media and obama’s worshipers has there been a “recovery”. Justice Roberts proved that a lot of people can get their heads pissed on and be told it is rain and believe it.
The earlier ‘recovery signs’ had all been tempered downward and revised. According to the WH spin, we've had uninterrupted recoveries now in how many months/quarters?
In their ‘recovery world’, unemployment should have been below 4, and everybody who wants a job could have a half dozen offers to choose from.
TARP, Bailout, Stimulus, Cash-for-Clunkers, QE and QE2, and now ObamaCare, and the recovery is still tepid? Obviously we’re just not spending enough on big government handouts to those with connections in the DNC, and we need much more of the same to make this recovery reach its full potential.