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US GDP growth forecast to slow in 2H2010 as rebound dissipates

15-Jul-2010 8:50 AM

The Conference Board forecast (14-Jul-2010) US GDP growth of 1.5% to 2% in 2H2010 as a result of slow consumer spending, weaker investment growth and a significant cutback in government spending. Chief Economist, Bart van Ark, stated the rebound effects from the recession have almost entirely dissipated in the US economy and a growth slowdown, starting in summer 2010, is becoming "increasingly apparent". There are no signs of a “double dip” recession. [more]