Economists down on GDP, upbeat on hiring

Although they are pessimistic about the U.S. economy, they are optimistic about their own company's prospects.
JAN 22, 2008
By  Bloomberg
Economists who work for major corporations are pessimistic about the health of the U.S. economy, but many are optimistic about their own company's prospects, according to a quarterly survey released today. The National Association for Business Economists surveyed 98 economists. Sixty-six percent of those surveyed by the Washington-based group forecast growth between zero and 2% during the first six months of the year. The GDP for the third quarter of 2007 was 4.9% Twenty-four percent said that they expect GDP to grow at an annualized rate above 2%. The remaining 10% of the panelists said they expect the GDP to slip in the first six months of the year. However, despite a slowdown in the housing markets and tight credit markets that are leading analysts to warn of a recession, the survey found that 42% of the economists say that their firms plan to create jobs in the first half of 2008, while only 17% plan to cut jobs.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.