Børsens News Service in English
No US Recovery Yet, Nykredit Analyst Predicts
03-08-2010
13:28
As the debate on the strength of the US economic recovery continues, a leading Danish financial analysis organization has predicted that American indicators will remain weak in the medium term. In an interview with Borsen TV, Ulrik Bie, Chief analyst at Nykredit Markets, expressed his belief that the US economy will continue to struggle for at least another eighteen months
"The U.S. economy will be very slow for the rest of 2010" he said. "It will no fun in 2011. The economy won't be back on its feet until 2012 or 2013,"
According to Bie, it is the hard-hit housing market is continuing to hamper the prospects of a sustained recovery.
"Unless the housing and labor markets pick up, the U.S economy will not be revitalized,” Bie said.
Nykredit analysts have predicted a so-called "double dip" in the U.S. housing market in the second half of 2010. "The expiration of tax incentives for the purchase of housing has meant that turnover has fallen dramatically”, Bie added. “And prices are going to fall a decent amount further"
"The U.S. economy will be very slow for the rest of 2010" he said. "It will no fun in 2011. The economy won't be back on its feet until 2012 or 2013,"
According to Bie, it is the hard-hit housing market is continuing to hamper the prospects of a sustained recovery.
"Unless the housing and labor markets pick up, the U.S economy will not be revitalized,” Bie said.
Nykredit analysts have predicted a so-called "double dip" in the U.S. housing market in the second half of 2010. "The expiration of tax incentives for the purchase of housing has meant that turnover has fallen dramatically”, Bie added. “And prices are going to fall a decent amount further"
*****||*****No US Recovery Yet, Nykredit Analyst Predicts*****||*****As the debate on the strength of the US economic recovery continues, a leading Danish financial analysis organization has predicted that American indicators will remain weak in the medium term. In an interview with Borsen TV, Ulrik Bie, Chief analyst at Nykredit Markets, expressed his belief that the US economy will continue to struggle for at least another eighteen months*****||*****
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