New Forecast: Hand Wringing and Teeth Gnashing to Continue Well Into 2010
Recent disappointing data on jobs and core retail sales have fueled fresh angst about a potential double-dip recession. Despite that, ITG’s Chief Economist, Bob Barbera, is sticking to his forecast for 5% real GDP growth in 4Q09 and 3.8% average real growth for 2010. He notes that the uncertainty is likely to keep the Fed on the sidelines, holding interest rates in check at least until late spring.

