Back

Economy & Business - September 2004

What's going to happen in 2005?

This is our first effort at forecasting what will happen in the region's economies in 2005. It is also our fifth and penultimate revision of our view of 2004. We still hold to our view that the US economic recovery is patchy. Furthermore, the ineluctable economic consequences of soaring fiscal and current- account deficits mean that the next few years are probably going to be grim for the US economy. This means that the November election may be a good election to lose: the opinion polls show that this is likely to be a bittersweet comfort to the challenger, John Kerry. If President George W Bush is re-elected, his second term will probably have to be spent in raising taxes and interest rates to get the US economy back on an even keel.

End of preview - This article contains approximately 2646 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Back