Feb-2-09 HARBOR intelligence shows US economic recession during 2009

Complex financial environment and the worsening of the housing crisis and the increasing population's saving need will cause the U.S. economy to contract by 1.8%.

Monterrey, Mexico, February 2, 2008 The economic intelligence department of HARBOR intelligence announced today that the U.S. economy will contract in a higher level than expected during 2009. This by modifying their U.S. GDP forecast from a - 0.5% in 2009 to a contraction of 1.8%. Jorge Vázquez Costilla, CEO of HARBOR intelligence declared that the deterioration of the consumers and businesses economy in the U.S. as well as its reduced capacity credit and the worsening of the real estate market along with its increasing savings need will result in a 1.8%  contraction of GDP U.S. during 2009. This projection takes into consideration the monetary and fiscal measures already implemented in the U.S. and those still pending to implement.