Next Year's GDP: So-So, but Positive

Courtesy of Calculated Risk, the Northern Trust's forecast:

Currently Northern Trust is forecasting 1.6% real annualized GDP growth in Q4, ['06] and 1.8%, 2.0%, 2.4% and 3.0% for each successive quarter in 2007. This is a forecast for sluggish growth in 2007, without a recession, and is similar to the Anderson forecast.

The rest of the entry focuses on housing values. CR is not an optimist; 2008 could have even less growth than '07.