Back on Groundhog Day we asked a couple economists to predict the economic future. Today we asked them to do it again: shadow or no shadow? First up, Charles Ballard. He’s an economics professor at Michigan State University.
Charles Ballard: On Groundhog Day, I thought there were some shadows, but actually I thought there was a good chance that we would have a good spring and in fact we have. The U.S. economy has added well over 600,000 jobs in that time and in fact, the last seven months have seen the most employment growth in the US since late ’05 and early ’06. So Punxsutawney Phil did not see his shadow; I think it’s been a pretty good spring.
And we check back in with Richard DeKaser with the Parthenon Group.
Richard DeKaser: We’re looking at mostly sunny skies. Certainly not completely sunny. The euro zone area, threats of confrontation in the Middle East and U.S. fiscal policy is eventually going to have to be dealt with, even though, not right now.
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