U.S. Outlook Winter 2009
The Conference Board of Canada, 16 pages
January 13, 2009
This quarterly report focuses on the latest economic developments in the U.S. economy, tracking trends in labour, consumer, energy and housing markets, and examining industries and regions. Monetary and fiscal policy assumptions are also included.
- Despite the severity of the current recession, we do not believe that it will turn into another 1930s-style depression.
- Real GDP will contract by 1.7 per cent in 2009 before rebounding and expanding by 2.2 per cent in 2010.
- Relief at the gas pump has been offset by a massive destruction in household wealth due to tumbling home and equity prices.