2011 US Economic Forecast
With the first quarter of 2011 behind us, there’s a lot to take away and learn from. Economists predicted that the recovery would be mild given the depth of the recession. Panelists have
expressed their concerns regarding weather issues, such as severe winter weather crimped economic activity in February. They also pointed out that because of this, upcoming monthly data on retail sales, production, home sales and housing starts could fall short of earlier consensus expectations. However, they also pointed out any weather-induced softness was recovered in the March data. With all the conflicting forecasts and lackluster predictions of economists, what will the future hold for 2011? To sum it up, the world economic recovery is very fragile and economic power is rapidly concentrating in just a few nations outside the US; the OPEC oil exporting countries, the European Union, and China.