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 covering a wide variety of subjects, from the nature of the growing terror threat in Northern Africa to China’s crackdown on Tibet and the struggle over immigration reform in the United States. You can follow Jeff on Twitter at @jseldin or on Google Plus.

You May Like

Polls Open in Scotland Independence Vote

As race to persuade undecided voters continues, 'No' voters say they believe life in Scotland will slowly improve, 'Yes' vote not worth the risk More

China to Invest $20 billion In India Amid Border Dispute

Border spat between armies of two countries in Himalayas underlines mutual tensions despite growing commercial ties highlighted by Xi Jinping's high profile visit More

Ukrainian Activist in Despair About Future of Her Country

IrIna Dovgan, accused of being a spy and tortured by pro-Russian separatists, is appealing to UN Human Rights Council to support her country 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.
A Dinosaur Fit for Land and Wateri
X
September 17, 2014 8:44 PM
Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.
Video

Video China Muslims Work to Change Perceptions After Knife Attacks

China says its has sentenced three men to death and one woman to life in prison for a deadly knife attack in March that left more than 30 dead and 140 injured. Beijing says Muslim militants from China's restive western region of Xinjiang carried out the attacks. Now, more than six months after the incident, residents in the city are still coping with the aftermath. VOA's Bill Ide has more from Kunming.
Video

Video Enviropreneur Seeks to Save the Environment, Empower the Community

Lorna Rutto, a former banker, is now an ‘enviropreneur’ - turning plastic waste into furniture and fences discusses the challenges she faces in Africa with raw materials and the environment.
Video

Video West Trades Accusations Over Ransoms

As world leaders try to forge a common response to the threat posed by Islamic State militants in Iraq and Syria, there is simmering tension over differing policies on paying ransoms. In the past month, the jihadist group has beheaded two Americans and one Briton. Both countries refuse to pay ransom money. As Henry Ridgwell reports for VOA from London, there is uncertainty in the approach of some other European nations.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid