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February 27, 2006

After Dinner Cowbell: 2006 Economy Will Roar Back

Just in time to distract us from the Iraq Civil War:

The US economy is set for a strong rebound in the first quarter of 2006, shaking off the hurricane-related weakness of the fourth quarter, a survey of business economists showed.

The survey of the National Association of Business Economists called for the economy to expand at a robust 4.5 percent pace in the current quarter -- the fastest since 2003 -- after a disappointing 1.1 percent annualized rate in the fourth quarter.

"The NABE panel sees the economy roaring back in early 2006 following the fourth quarter's tepid 1.1 percent growth," said Stuart Hoffman, NABE president and chief economist at PNC Financial Services Group.

"Our forecasters expect the economy to shake off the effects of last years hurricanes and surging oil price."

The report based on a survey of 53 economists projected the overall pace of growth for 2006 at 3.3 percent.


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posted by Ace at 07:56 PM

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