US economy will be okay in 2007 - 2007-01-24
The US economy will easily avoid a recession this year as consumer spending remains robust to offset the effects of a weaker housing market, according to a Reuters poll. This strength may even let the Federal Reserve to leave interest rates untouched this year. The poll of 58 economists showed they expected growth to cruise at a rate of about 2.5 per cent in 2007, picking up to 3.0 per cent next year.
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US CBO: housing to steady in '07, drag on spending - 2007-01-24
The U.S. housing slump is expected to hit bottom in 2007, but still be a drag on consumer spending, while business investment stays healthy and corporate profit growth slows, congressional analysts declared on Wednesday. Mainly in line with private economists' forecasts, the Congressional Budget Office predicted that prices for houses will see a small drop during 2007, stabilize later in the year and possibly nudge up in 2008.
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