Housing Slump to Weigh on U.S. Economy in '07 - 2007-01-02
As the new year arrives, many private analysts are forecasting the U.S. economy will perform at the slowest rate in five years, a full percentage-point less than the growth seen in 2006. While the slowdown will cause the unemployment rate to climb, economists remain hopeful that the economy will stay on track to realize the Federal Reserve's hoped-for "soft landing."
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Analysts cautious on 2007 U.S. economy outlook - 2007-01-02
Wall Street had good reason to celebrate by the end of last year. A second-half rally pushed the sharemarket to its best year since 2003. Companies posted strong profits, and some, such as oil producers and investment banks, enjoyed record earnings. There were concerns that a slowdown in housing and higher energy prices would hurt the overall economy. But the U.S. economy proved strong, withstanding a housing slowdown.
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