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Economists upgrade US outlook after surprisingly strong data
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| Contributor | kal |
| Last Edited | kal Jan 15, 2007 06:56am |
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| Category | News |
| News Date | Monday, January 15, 2007 12:00:00 PM UTC0:0 |
| Description | Economists are hastily upgrading their forecasts for the US economy after a series of surprisingly strong reports suggesting the so-called "soft landing" may be over and growth is accelerating.
Over the past week, surprises have come in stronger-than-expected reports on US job creation, the trade balance and retail sales -- all key contributors to economic activity.
Lehman Brothers chief US economist Ethan Harris on Friday boosted his forecast for fourth quarter 2006 growth to an annualized rate of 3.3 percent, a leap from the firm's prior call for just 2.0 percent growth.
"After slowing in November, the economy seems to have regained its stride," Harris said.
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