http://story.news.yahoo.com/news?tmpl=story&u=/ap/20040706/ap_on_bi_ge/economic_outlook
"WASHINGTON - The economy appears headed for a banner year despite a springtime spike in energy prices and a recent increase in interest rates."
"In fact, many analysts are forecasting that the overall economy, as measured by the gross domestic product, will grow by 4.6 percent or better this year, the fastest in two decades."
"There were strong 4.5 percent growth rates in 1997 and 1999, when Bill Clinton (news - web sites) was president and the country was in the midst of a record 10-year expansion."
"But if this year's growth ends up a bit faster than that, it will be the best since the economy roared ahead at a 7.2 percent rate in 1984, a year when another Republican president ? Ronald Reagan (news - web sites) ? was running for re-election."
""We are moving into a sweet spot for the economy with interest rates not too high, jobs coming back and business investment providing strength," said Diane Swonk, chief economist at Bank One in Chicago, who is predicting GDP (news - web sites) growth of 4.8 percent this year."
"They predict the unemployment rate ? stuck at 5.6 percent for most of this year ? will improve gradually, to 5.3 percent by December, as a strengthening job market draws people back into the labor force."
"The group projects overall GDP growth will be at a 20-year high of 4.7 percent, based in part on a belief that the Fed will keep to its pledge of moderation in future rate hikes because of the absence of inflation pressures."
"WASHINGTON - The economy appears headed for a banner year despite a springtime spike in energy prices and a recent increase in interest rates."
"In fact, many analysts are forecasting that the overall economy, as measured by the gross domestic product, will grow by 4.6 percent or better this year, the fastest in two decades."
"There were strong 4.5 percent growth rates in 1997 and 1999, when Bill Clinton (news - web sites) was president and the country was in the midst of a record 10-year expansion."
"But if this year's growth ends up a bit faster than that, it will be the best since the economy roared ahead at a 7.2 percent rate in 1984, a year when another Republican president ? Ronald Reagan (news - web sites) ? was running for re-election."
""We are moving into a sweet spot for the economy with interest rates not too high, jobs coming back and business investment providing strength," said Diane Swonk, chief economist at Bank One in Chicago, who is predicting GDP (news - web sites) growth of 4.8 percent this year."
"They predict the unemployment rate ? stuck at 5.6 percent for most of this year ? will improve gradually, to 5.3 percent by December, as a strengthening job market draws people back into the labor force."
"The group projects overall GDP growth will be at a 20-year high of 4.7 percent, based in part on a belief that the Fed will keep to its pledge of moderation in future rate hikes because of the absence of inflation pressures."