Top economists forecast GDP growth for next 2 months will be positive

August 7, 2009 - 1:53pm | Analytics | News |
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Top economists forecast GDP growth for next 2 months will be positive
CNBC, a division of NBC Universal, conducted a survey of some of the nation's top economic forecasters in a poll titled "Leen's Lodge Indicator". The experts gathered in the woods of Maine to compare notes and reflect on the state of the economy. Twenty-five of these money managers and business leaders weighed in CNBC’s special survey and answering the following questions gave their outlook for the future of US economy.

• Where will the unemployment rate be a year from now?
65 percent said above 10 percent

• What is most important for the economic recovery?
39 percent said job growth
26 percent said higher consumer spending

• When should the Fed start raising rates?
60 percent said on hold for longer than a year
22 percent said will raise in the next 6-12 months

• The President's grade on handling the economy
D

• View of the recession:
39 percent said recession will end in the next 3 months
26 percent said recession will end in the next 6 months
17 percent said recession is over

• GDP forecast for Q3 & Q4
Average 1.5 for the next two quarters
- 90 percent said growth will be positive
- 30 percent said second recession is coming





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