December 2011
LIA Monthly Economic Report - Economy Vulnerable to External Shocks
By: Dr. Pearl M. Kamer, LIA Chief Economist
Recent economic reports indicate that the U.S. economy is generating enough momentum to avoid another recession but not enough to significantly reduce unemployment. GDP growth in the third quarter of this year was revised downward from 2.5% to 2.0%. Economic output remains 3% below its level at the start of the recession. Job growth is slow and home prices are still falling. This leaves the American economy vulnerable to external shocks.
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