GDP Confirms U.S. Rebound Is Over
Date: 7/30/2010

“The post-recession rebound is history. We don’t foresee a double-dip, but we do expect growth to slow even more markedly, to a 1.6-percent annualized rate in the second half of the year. The expected drop in government spending will be compounded by continued weakness among consumers and business – signaled by both The Conference Board Leading Economic Index® (LEI) for the United States and The Conference Board Consumer Confidence Index®. Such a slower pace is unlikely to sustain strong profit growth, and would also weigh on employment and wages.”