Barclays Chief Economist Boosts U.S. Q3, Q4 GDP Growth Estimates
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Barclays Chief Economist, Dean Maki, is out with a somewhat surprising economic report today. The economist lifted his U.S. GDP forecast for the second half of this year, saying he now sees Q3 growth at 2.5%, up from 2% previously, and Q4 growth at 3.5%, up from 3% previously.
The Barclays economist also indicated that he does not expect to see the Fed raise either of its key interest rates this year, but does believe the U.S. is now recovering. Further, the economist believes that Obama's "cash-for-clunkers" initiative will have a positive effect on car sales during the back half of 2009.
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