Tags: Bernanke | Predicts | Growth | Accelerate | Above | 3% | Second

Bernanke Predicts Growth to Accelerate Above 3% in Second Half

Wednesday, 13 Jul 2011 01:19 PM

Federal Reserve Chairman Ben S. Bernanke said he expects the economy to grow at an annual pace exceeding 3 percent in the second half of this year.

Bernanke said an expansion of “3 percent plus” is based on stronger auto sales and production and more spending by consumers.
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In the first half of this year, auto production was hobbled by a shortage of parts because of the Japan earthquake, and high gasoline prices weighed on consumer spending, he said today in response to a question at a House Financial Services Committee hearing. He estimated growth during that period was around a 2 percent.

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Federal Reserve Chairman Ben S. Bernanke said he expects the economy to grow at an annual pace exceeding 3 percent in the second half of this year.Bernanke said an expansion of 3 percent plus is based on stronger auto sales and production and more spending by...
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