27 January 2012 16:59 [Source: ICIS news]
WASHINGTON (ICIS)--US Treasury Secretary Timothy Geithner said on Friday he expects that ?xml:namespace>
Speaking at the World Economic Forum in
“I think that’s a realistic outcome,” he said of the 2-3% growth forecast, “as long as we don’t see a lot of risks coming out of
In a normal economy, the US would be expected to have annual GDP growth of 3-3.5%.
The department said much of the
Because Europe is a major export market for the
In addition to the ongoing eurozone sovereign debt crisis,
“We still face tremendous challenges,” Geithner said, adding that the
He noted that US “unemployment is still very high, housing and construction are still very weak, people still have too much debt”.
Geithner said the
On the positive side, he said the
“If you look at investments as a measure of confidence, private investment in equipment and software is up more than 30% since the trough in the first half of 2009,” he said.
“Exports are up by 23%. There’s a broad-based strength in energy, in agriculture, in manufacturing,” he said.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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