Design
Tools
LoadMatch
System
LOFlo
System
Air
Elimination
Circulators
& Pumps
Accessories
for circulators
& pumps
Heat Exchangers
Tanks
Valves &
Controls
Energy
Management
Variable Speed
Web-based
Building
Management
Switch to Residential
Product Navigation
  Where to Buy

What is your zip code?

 
 
  We're Here to Help

How can we help? Please choose a category for immediate help.






 
 

Economic Contraction Losing Steam


Latest News > Industry News

The contraction of the U.S. economy seems to be slowing down.

"The 'Great Recession' is hardly over, but the rate of decline is slowing and the light at the end of the tunnel is coming into view," states the "Eye on the Economy" newsletter of the National Association of Home Builders (NAHM).

The economy apparently contracted most in the last quarter of 2008, due primarily to the "massive shock" to financial markets, the newsletter states. GDP fell by an annual rate of 6.3% in fourth quarter, 2008 and continues to shrink at a slightly less alarming 6.1% in the first quarter, 2009. More recent data indicates that rate may be revised to about 5.5%.

"We continue to believe that GDP growth will swing into the black in the second half of this year, aided and abetted by the federal stimulus package and by the financial market policy blitz engineered by the Federal Reserve, Congress and the Administration," the NAHB newsletter says. "However, we're expecting below-trend GDP growth that will be accompanied by further deterioration of the labor market," it adds.

Read the current issue of NAHB's Eye on the Economy newsletter here.