A Very Optimistic Outlook

I really can't say that I believe all this will happen, but I hope I'm wrong and this guy is right:
Sure, the US economy is struggling, but it should start looking up by late 2008 and 2009, say U-M economists. In their annual spring forecast update, Saul Hymans, U-M professor emeritus of economics, and colleagues Joan Crary and Janet Wolfe, predict 2.5 percent growth in the GDP during the second half of 2008, followed by an even stronger 2.9 percent gain in real GDP in 2009. Light vehicle sales will stabilize, housing starts will pick up by 30 percent after bottoming out, and the price of oil will drop from the current $110 per barrel to an average of $88. Core inflation should remain in check at about 2.5 percent this year and next, and consumer spending should stabilize at a lower but not disastrous rate of 2 percent growth.

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