America’s H2 GDP Growth Set to be ‘Fastest Since 1999’

12 September 2003

The US economy is expected to accelerate in the second half of 2003 at the fastest rate since late 1999. So concludes a survey of fifty-three economists by the Wall Street Journal Online.

The consensus is that gross domestic product will grow at a seasonally adjusted rate of 4.7% in the third quarter and 4.0% in the fourth. These rates, aggregated, would reflect the fastest rate of growth in nearly four years – when in H2 1999 the US economy expanded at an annualized rate of 6%.

Furthermore, the current surge could get better yet. It is already a substantial improvement on August’s estimates [or what plain folk call ‘guesses’] of 3.6% and 3.8% respectively.

If the haruspices have got it right, expect adspend growth to follow suit.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff