Economic growth forecasts for the american economy in 2011 have been revised upwards during the last few weeks. Fears of an important slowdown, even for some the second phase of a double dip recession, had brought down growth forecasts from last summer to mid-fall. In October and early November, GDP growth estimates for the US economy were only at 2.3 % according to the IMF World Economic Outlook, the average forecast from The Economist poll of forecasters and the Bank of Canada.
A monetary policy even more expansionist (QE2), announced by the Federal Reserve last November, and fiscal measures, also expansionist, adopted by the US Congress last December, brought the economists to recalculate their GDP growth forecasts for 2011. The Economist poll of forecasters average estimate is now at 3.0 %, the same as the average forecast from more than 100 economists that participated, in early December, to a Chicago Fed economic outlook symposium. The Conference Board, which a few weeks ago, forecasted an economic growth of only 1.7 %, made known, on January 11, its revision to 2.5 % GDP growth.
Germany, the fourth in the world for the importance of its economy, is an other country where the economic outlook has been significantly revised up for 2011. The average GDP growth forecast went progressively from 1.6 % last August to 2.4 % earlier this month (ref. : The Economist, Jan. 8 edition).
No comments:
Post a Comment