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