Posts Tagged ‘US economy’

US Economy to Surge Up in 2010 : Economists

World Largest Economy to Expand in 2010

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Market forecasters and analysts have put forth the view that US economy will most probably turn in its best performance this year since 2004 owing to the factor that companies have increased the investment and hiring.

With the increase in the spending of perks, also, it seems a near probability.

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Many US economists have  said that the world’s largest economy may expand 3-4% in 2010.

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As per the top economists, the rebound in stocks and rising incomes will prompt Americans to do what they do best — consume.

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Faced with dwindling inventories and growing demand, companies will soon become confident the expansion will be sustained.

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Market experts and economists believe that Household spending would pick up the steam as US economy would move into the second half of 2010.

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The overall picture for 2010 will be an economy growing rapidly enough to bring down the unemployment rate to an average of 9.6%.

The rate will reach about 9% by the end of 2010, major economists quoted.

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US employers expect to hire more new workers in 2010 than they did in 2009, a sign the US recession may be easing its grip, a research showed.

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One-fifth of employers plan to add full-time, permanent employees this year, up from 14% in 2009, according to an online job site that surveyed considerable number of hiring managers and HR professionals.

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Just 9% said they plan to cut headcount in 2010, down from 16% in 2009, according to the nationwide survey.

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The number of employers who say they’re going to add full-time workers is up from last year, and that is very good news. There’s definitely an uptick.

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D-Street may inch towards consolidation: Analysts

Dalal Street

A wave of consolidation is likely to greet Dalal Street this week as concerns over rainfall shortage would pull down investor sentiments and keep the market under pressure, analysts said.

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“The market would remain range-bound and would look for a positive trigger amid the dampening effect on the possibility of a drought-like situation in the country,” Ashika Stock Brokers Research Head Paras Bothra said.

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Analysts also said there might be some positive bias in the movement of the market but absence of any major trigger might shift focus on the rain God.

“Delayed monsoon has made the market totally indecisive of the next move.

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The impact of drought would be felt in some time from now and that is holding back investor confidence to enter market,” SMC Capitals Equity head Jagannadham Thunguntla said.

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Besides, with the US economy showing signs of revival and Germany and France emerging out of the recession quicker than expected, analysts feel it could bring in a positive bias in the market.

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“As it is now a known fact that the major economies are pulling themselves out of the recession, I do not foresee any major collapse in the market in near term as it is all positive news around,” Bothra added.

The BSE Sensex gained 251 points, or 1.66 percent in the past week and closed at 15,411.63 points.

India Inc created 3,00,000 jobs in US: Study

India Inc created 3,00,000 jobs in US: Study

India Inc created 3,00,000 jobs in US: Study

When the Indian outsourcing industry is being blamed for taking away American jobs, a study has found that corporate India has created employment for 3,00,000 people in the US between 2004 and 2007.

An India Brand Equity Foundation study released in Washington on Wednesday by Commerce and Industry Minister Anand Sharma mentioned USD 105 billion contribution by the Indian industry to the US economy during 2004-07.

“This revealed a story of commitment to optimise and to invest in the future of the relationship,” Sharma said.

The USD 50-billion Indian outsourcing industry has come in for a major attack in the US, bolstered by President Barack Obama’s calls to the US companies to move from Bangalore to Buffalo.

Concerned over the backlash in the US, the Indian industry has been trying to lobby with influential Americans and opinion leaders about the benefits that the American can derive from developing economies.