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Top-10 Economic Predictions for 2008
The U.S. economy is now in the danger zone. GDP growth in the fourth quarter of 2007 (0.0%) and first half of 2008 (0.8% in the first quarter and 1.8% in the second quarter) is expected to be very weak. This will make the United States extremely vulnerable to another shock. Furthermore, it is unlikely that the rest of the world will be able to shrug off the expected sharp deceleration in spending by American households. Global Insight currently predicts that world growth will be 3.3% in 2008, compared with 3.7% this year. With the potential for housing crunches in some European economies and a post-Olympics slowdown (or even bust) in China, the risks for the global economy are now overwhelmingly on the downside.
see all Top-10 Economic Predictions for 2008
Top-10 Economic Predictions for 2007: How Accurate Were We?
All of Global Insight’s Top-10 Predictions for 2007 were on track. However, the deceleration in world growth was less than we had predicted (the current estimate for 2007 is 3.7%), and oil prices were even higher than our forecast.
see scorecard and Top-10 Economic Predictions for 2007
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