2008 Business Forecast - University of Chicago Graduate School of Business

After Slow First Half, U.S. Economy Will Grow in 2008

"A continued surge in exports and modest gains in business investment will support 2 percent real GDP growth for 2008, with about a one-third risk of recession that will be particularly acute during the first half of the year, said Michael Mussa, senior fellow of the Peterson Institute for International Economics. 'This risk reflects the danger that a number of things could go wrong and slow the economy below its stall speed.'"

"Marvin Zonis, professor emeritus of business administration, predicted that Democrat Barack Obama, senior lecturer at the Law School, will defeat Republican Rudy Giuliani for the U.S. presidency in November."

"'The next two quarters will be painfully slow, between 0 and 1 percent growth in GDP,' Raghuram Rajan, Eric Gleacher Distinguished Service Professor of Finance said, 'But barring a low probability default by a major financial institution, trend growth should resume by the second or third quarter of next year.'"

from Chicago GSB Magazine, December 2007