Outlook for 2008 Worsens

By Andrew Paparozzi
In February 19, 2008

Has the outlook for the U.S. economy become any clearer? The answer is yes. Unfortunately, it is in the direction of decidedly more weakness. This is the message from the latest consensus forecast by Blue Chip Economic Indicators—a group of the nation’s top economists.

The consensus forecast for GDP growth in 2008 adjusted for inflation slid to 1.7% in February—half a percentage point lower than was forecast in the previous month. And the lowering of expectations was widespread among the group, with 42 out of 50 economists reducing their forecast and only two moving upward.

Interestingly, the consensus is still not calling for an outright recession, but this is of little solace. Recession or not, 2008 is going to be a difficult year for printers and their clients. It is going to be especially troublesome for those who are unprepared to take the necessary steps to come out of the downturn stronger than going in.
Joseph Vincenzino

Andrew Paparozzi

Epicomm's Andrew Paparozzi, Vice President/Chief Economist, is well-known for his accurate and thoughtful discussions on the economy and US commercial printing industry. A foremost author and speaker on economic business trends in the printing industry, Paparozzi heads Epicomm's Printing Economic Research Center.

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