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S&P: US growth likely to slow in second-half 2012

By FXstreet.com,  September 21, 2012, 02:56:00 PM EDT

FXstreet.com (Córdoba) - The rating agency Standard & Poor's expects a US GDP growth of just 2.2% this year and only 1.8% in 2013, as recent jobs data disappointed and showed soft potential for economic growth.

Meanwhile, according to S&P chances of another US recession is about 20%-25%. "Chances of a quick turnaround are around 15%", said Standard & Poor's Deputy Chief Economist Beth Ann Bovino.

However, according to S&P, "The housing market, which has been a drag on growth since 2005, may finally be helping - not hurting - the recovery", said Bovino. "We expect residential investment to contribute to GDP growth in 2012, for the first time in seven years."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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