Economic Forecast

A pessimistic  outlook on the United States economy has just been offered by forecasters from the National Association for Business Economics (NABE) who expect the recession to continue through mid-year 2009. The NABE panel does not expect a meaningful recovery to take hold until 2010. Notwithstanding the dour U.S. outlook for 2009, the NABE forecasters see the U.S. as the leader in shaking off the recession shroud. When quizzed about the countries that would emerge first from the recession, some 34 percent of responses favored the U.S., followed by China at 28 percent and Canada at 13 percent. Less than 4 percent regarded the United Kingdom and the Eurozone as leaders. Check out latest I.I.I. presentations on the P/C industry strength amid the economic downturn. For more on how insurers support national and state economies, check out the I.I.I. online publication A Firm Foundation.

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