Nomura Securities U.S. Economics Weekly
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Nomura Securities U.S. Economics Weekly by David Resler
Resler said, "Slower-than-expected economic growth, coupled with threats from abroad, has raised the risk of recession. We currently estimate the likelihood of recession to be 35% within the next 12 months. While we still expect growth to pick up in the second half, tumultuous financial markets have shaken confidence and reduced household wealth. In addition, although President Obama has promised to lay out another stimulus package after Labor Day, it may do little more than counter the drag from the unwinding of the 2009 stimulus program. "
Resler said, "Slower-than-expected economic growth, coupled with threats from abroad, has raised the risk of recession. We currently estimate the likelihood of recession to be 35% within the next 12 months. While we still expect growth to pick up in the second half, tumultuous financial markets have shaken confidence and reduced household wealth. In addition, although President Obama has promised to lay out another stimulus package after Labor Day, it may do little more than counter the drag from the unwinding of the 2009 stimulus program. "
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