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Opinion - USA - Is the Economy Really Slowing Down?
USA -Yahoo! News, by Brian Wesbury -Jun 13, 2006: -- Real GDP' expanded at a 3.3% annual rate in the second quarter of 2005. This was followed by a 4.4% growth rate in the third quarter and then a post-Katrina swoon of 1.7% in the fourth quarter - which many took as a sign that the economy was slowing. Nonetheless, a post-Katrina rebound boosted real GDP to a barn-burner 5.3% rate in the first quarter of 2006. I expect second quarter growth to slow to 2.8%... We do not believe that the economy will slow much, if at all, in the second half of 2006. Leading indicators of business confidence remain robust. Heavy duty (above 14,000 lbs.) truck sales were 10.5% above year-ago levels in the first quarter, while capital goods orders (excluding defense and aircraft) were up 9.2% year-over-year in April...
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