News / Middle East

US Bankers, CEOs See Better Times Ahead

A sign says 'under contract' in front of a house in Point Pleasant Beach, New Jersey, May 27, 2011 (file photo)
A sign says 'under contract' in front of a house in Point Pleasant Beach, New Jersey, May 27, 2011 (file photo)

A series of U.S. economic reports over the past few weeks have disappointed investors, sparking concerns the country's economic recovery is starting to stumble.  But new reports from two key groups show their faith in the U.S. economy has not wavered.

Millions of Americans are still out of work.  Consumers are spending little.

Still, chief executives from some the country's leading companies remain optimistic the U.S. economy is just starting to heat up.

"Over 80 percent - 87 percent - say their sales will be increasing," Business Roundtable Executive Director Johanna Schneider noted.  "So that's a reflection of strong demand."

Schneider says the executives also tell the Business Roundtable survey they expect to spend more money over the next six months, which they expect will also lead to more hiring, 51 percent of the CEOs saying their firms will take on new employees.

"The second half of 2011 will be a period of growth.  Not as robust as we would like, but it will be a period of growth," added Schneider.

America's leading executives are not the only ones still feeling good about the prospects for the U.S. economy.

The country's bankers are also optimistic.

A report Tuesday from the American Bankers Association forecasts the country's total economic output, or Gross Domestic Product will grow at a rate of 3 percent through the end of 2012, creating about 4.5 million jobs in the process.  

But none of that means the trouble for the U.S. economy is over.  

The American Bankers Association reports says that even if its prediction for job creation comes true, the U.S. economy will only have created about half the jobs it lost during the recession.

And Business Roundtable Executive Director Johanna Schneider says even the country's leading executives know regaining everything that has been lost will not be easy.

"They have confidence in their own companies and their ability to compete but they are walking into strong headwinds," Schneider said.

Schneider says those strong "headwinds" are high prices for oil and gasoline and the continuing fallout from the Japanese earthquake and tsunami that disrupted the deliver of supplies and components to companies around the world.


Jeff Seldin

Jeff works out of VOA’s Washington headquarters and is national security correspondent. You can follow Jeff on Twitter at @jseldin or on Google Plus.

You May Like

Disappointing Report on China's Economy Shakes Markets

In London and New York shares lost 3 percent, while Paris and Germany dropped around 2.4 percent More

DRC Tries Mega-Farms to Feed Population

Park at Boukanga Lonzo currently has 5,000 hectares under cultivation, crops stretching as far as eye can see, and is start of ambitious large-scale agriculture plan More

Video War, Drought Threaten Iraq's Marshlands

Areas are spawning ground for Gulf fisheries, a resting place for migrating wildfowl, source of livelihood for fishermen and herders who have called the marshes home for generations More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Nobel Prize Winner Malala Talks to VOAi
X
August 31, 2015 2:17 AM
Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.
Video

Video Next to Iran, Climate at Forefront of Obama Agenda

President Barack Obama this week announced new initiatives aimed at making it easier for Americans to access renewable energy sources such as solar and wind. Obama is not slowing down when it comes to pushing through climate change measures, an issue he says is the greatest threat to the country’s national security. VOA correspondent Aru Pande has more from the White House.
Video

Video Arctic Draws International Competition for Oil

A new geopolitical “Great Game” is underway in earth’s northernmost region, the Arctic, where Russia has claimed a large area for resource development and President Barack Obama recently approved Shell Oil Company’s test-drilling project in an area under U.S. control. Greg Flakus reports.
Video

Video Philippine Maritime Police: Chinese Fishermen a Threat to Country’s Security

China and the Philippines both claim maritime rights in the South China Sea.  That includes the right to fish in those waters. Jason Strother reports on how the Philippines is catching Chinese nationals it says are illegal poachers. He has the story from Palawan province.
Video

Video China's Spratly Island Building Said to Light Up the Night 'Like A City'

Southeast Asian countries claim China has illegally seized territory in the Spratly islands. It is especially a concern for a Philippine mayor who says Beijing is occupying parts of his municipality. Jason Strother reports from the capital of Palawan province, Puerto Princesa.
Video

Video Ages-old Ice Reveals Secrets of Climate Change

Ice caps don't just exist at the world's poles. There are also tropical ice caps, and the largest sits atop the Peruvian Andes - but it is melting, quickly, and may be gone within the next 20 years. George Putic reports scientists are now rushing to take samples to get at the valuable information about climate change locked in the ice.

VOA Blogs