NEW YORK CITY-The economy has cleared some major hurdles on its way to true solvency in recent weeks and months, including the so-called fiscal cliff. But to the extent that uncertainty still prevails, and much of that uncertainty centers around the still-battling bureaucrats of the Beltway, the economic picture remains hazy.
That was the upshot of a IHS' Global Insight's Monday webinar. Chief US economist Nigel Gault started by framing the entire good-news/bad-news scenario:
First, the bad news: The fiscal cliff deal removed stimulus, didn't fix the sequester and didn't cut the long-term deficit much, and foreign weakness has dampened export growth.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
