Arab Today, arab today us gdp growth in q4 to hover at 1 percent
Last Updated : GMT 14:19:06
Arab Today, arab today
Arab Today, arab today

US GDP growth in Q4 to hover at 1 percent

Arab Today, arab today

Arab Today, arab today US GDP growth in Q4 to hover at 1 percent

Washington - XINHUA

The U.S. GDP growth in the fourth quarter is expected to be 1 percent due to the fiscal cliff problem, an expert of Bank of America Merrill Lynch said on Tuesday. Ethan Harris, co-head of global economics research of Bank of America Merrill Lynch, said that if fiscal cliff and European economic crisis were not taken into account, the prospects of the U.S. economy would be quite optimistic. \"We\'ve had real healing in the U.S. economy in the last three years, even though it\'s been a very slow recovery\", Harris said. However, the short-term risks cannot be ignored. Harris said that the world economy entered into a very dangerous period when the United States and Europe fell into crisis at the same time. In his view, after a complicated U.S. presidential election, many politicians of the Democratic Party and Republican Party will hold more negative views towards each other, which will make the gap between the two parties even wider. Harris said the most realistic scenario is that the two parties will deal with the fiscal cliff in peace because the two parties gave themselves too much to do and too little time. The budget deficit is likely to be cut by 250 to 300 billion U.S. dollars through a very painful process, which will bring very bad impact to the market confidence in U.S. economy. \"It means that we probably will go through six months period of high uncertainty. Uncertainty is the enemy of growth. If corporations do not know what the tax regime is, what the spending policy is, they will not get engaged,\" he said. Harris said that the impact of fiscal cliff in terms of capital spending decisions and companies\' dramatic pullback on orders has already appeared. If the cliff goes on for six months, more damages will be made including a slowdown in the U.S. job market, \"this will be a very challenging period of time.\" Harris believed that emerging markets in general are healthier. These countries are in good shape, having strong reserve balances and improving their macro economic management. Take China for example, China will avoid hard landing in the coming months. But Asia will slow a little bit in reaction to the U.S. economic crisis.

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 us gdp growth in q4 to hover at 1 percent Arab Today, arab today us gdp growth in q4 to hover at 1 percent

 



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 us gdp growth in q4 to hover at 1 percent Arab Today, arab today us gdp growth in q4 to hover at 1 percent

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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