Arab Today, arab today imf expects us economy to grow by 17 in 2013
Last Updated : GMT 16:35:01
Arab Today, arab today
Arab Today, arab today

IMF expects US economy to grow by 1.7% in 2013

Arab Today, arab today

Arab Today, arab today IMF expects US economy to grow by 1.7% in 2013

Washington - XINHUA

Growth of U.S. economy will remain tepid through 2013, before accelerating in 2014, said the International Monetary Fund (IMF) on Friday. The IMF\' s annual report on U.S. economy forecast growth of 1.7 percent this year and 2.7 next year, both down 0.2 percentage point from the organization\'s April projections. The IMF said the U.S. economic recovery remains modest but is gaining ground, supported by a rebound in the housing market, still easy financial conditions, and a boost to household net worth from higher house and stock prices. \"These factors are helping to offset the impact of strong fiscal adjustment on consumer spending. But the economy is still far from normal conditions, with high unemployment and a large negative output gap.\" \"Fiscal policy will be a significant drag on growth in 2013, but less so in 2014,\" the report predicted, and said the monetary policy will remain accommodative as the U.S. Federal Reserve\' s bond purchase program may continue at the current pace through late this year, and then be scaled back gradually over the course of 2014. \"Risks to the outlook are still tilted to the downside, although less so than last year,\" said the IMF, noting the drag from fiscal policy could turn out to be greater than expected and a worsening of the euro area debt crisis would weigh on U.S. growth. While believing the Federal Reserve has a range of tools to manage the normalization of monetary policy, the IMF cautioned that initial steps taken by the U.S. central bank could result in an abrupt increase in the longer-term interest rates, should investors rush to offload their Treasury holdings to avoid greater capital losses down the road. The increase in market turbulence since late May is illustrative in this regard. The IMF stressed the fiscal consolidation should be more balanced and gradual. The automatic spending cuts, known as sequester, not only reduce growth in the short term but could also undermine potential in the medium term through indiscriminate cuts to education and infrastructure. \"They should be replaced with back-loaded entitlement savings and new revenues.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf expects us economy to grow by 17 in 2013 Arab Today, arab today imf expects us economy to grow by 17 in 2013

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf expects us economy to grow by 17 in 2013 Arab Today, arab today imf expects us economy to grow by 17 in 2013

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 10:39 2017 Monday ,26 June

Authorities release Assala under conditions

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday