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

At Khmer Rouge Court, Long-Awaited Verdict Approaches

First phase of trial, which is coming to an end, has focused on forced exodus of Phnom Penh in 1975 - and now many are hopeful justice will be served More

Video When Fighting Eases, Gazans Line Up at Bakeries

When there is a lull in the conflict, residents who have been hunkered down in their apartments rush out to stock up on food and other necessities More

Video Information War Rages Alongside Real One in Ukraine

Downing of Malaysian airliner, allegations of cross-border shelling move information war in war-torn country to a new level 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.
Information War Rages Alongside Real One in Ukrainei
X
Al Pessin
July 31, 2014 8:13 PM
The downing of the Malaysian airliner two weeks ago, and allegations that Russians are shelling Ukrainian troops across the border, have moved the information war swirling around the Ukrainian conflict to a new level. VOA's Al Pessin reports from Kyiv.
Video

Video Information War Rages Alongside Real One in Ukraine

The downing of the Malaysian airliner two weeks ago, and allegations that Russians are shelling Ukrainian troops across the border, have moved the information war swirling around the Ukrainian conflict to a new level. VOA's Al Pessin reports from Kyiv.
Video

Video When Fighting Eases, Gazans Line Up at Bakeries

When there is a lull in the conflict in Gaza, residents who have been hunkered down in their apartments rush out to stock up on food and other necessities. Probably the most important destination is the local bakery. VOA’s Scott Bobb reports from Gaza City.
Video

Video US-Funded Program Offers Honduran Children Alternative to Illegal Immigration

President Obama and Central American leaders recently agreed to come up with a plan to address poverty and crime in the region that is fueling the surge of young migrants trying to illegally enter the United States. VOA’s Brian Padden looks at one such program in Honduras - funded in part by the United States - which gives street kids not only food and safety but a chance for a better life without, crossing the border.
Video

Video 'Fab Lab' Igniting Revolution in Kenya

The University of Nairobi’s Science and Technology Park is banking on 3-D prototyping to spark a manufacturing revolution in the country. Lenny Ruvaga has more for from Nairobi's so-called “FabLab” for VOA.
Video

Video Gazans in Shelled School Sought Shelter

Israel's air and ground assault against Hamas-led fighters in Gaza has forced many Palestinians to flee their homes, seeking safety. But safe places are hard to find, as VOA’s Scott Bobb reports from Jabaliya.
Video

Video Rapid Spread of Ebola in West Africa Prompts Global Alert

Across West Africa, health officials are struggling to keep up with what the World Health Organization describes as the worst ebola outbreak on record. The virus has killed hundreds of people this year. U.S. President Barack Obama and other world leaders are watching the developments closely as they weigh what actions, if any, are needed to help contain the disease.
Video

Video Michelle Obama: Young Africans Need to Embrace Women's Rights

U.S. first lady Michelle Obama urged some of Africa's best and brightest to advocate for women's rights in their home countries. As VOA's Pam Dockins explains, Obama spoke to some 500 participants of the Young African Leaders Initiative, a six-week U.S.-based training and development program.
Video

Video Immigrant Influx on Texas Border Heats Up Political Debate

Immigrants from Central America continue to cross the U.S.-Mexico border in south Texas, seeking asylum in the United States, as officials grapple with ways to deal with the problem and provide shelter for thousands of minors among the illegal border crossers. As VOA's Greg Flakus reports from Houston, the issue is complicated by internal U.S. politics and U.S. relations with the troubled nations that immigrants are fleeing.
Video

Video Study: Latino Students Most Segregated in California

Even though legal school segregation ended in the United States 60 years ago, one study finds segregation still occurs in the U.S. based on income and race. The University of California Los Angeles Civil Rights Project finds that students in California are more segregated by race than ever before, especially Latinos. Elizabeth Lee reports for VOA from Los Angeles.

AppleAndroid