Honeywell’s ex-CEO Larry Bossidy isn’t seeing any signs of a robust recovery. While GDP will rebound and the economy is getting better, he expects it to settle to an “anemic” growth level of just 2-3% in 2010 since unemployment will still be very high.
His outlook is similar to that of Capital Economics, who see US GDP growth of just 3% in 2010, followed by an even slower 1.5% in 2011 once the effects of US stimulus wear off.
(Chart via Capital Economics, “Fed Watch”, 16 September 2009)
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