Daily News: December 4, 2012

Most Accurate Forecaster Sees Lethargic U.S. Expansion

Bloomberg reported, according to data compiled for the annual Bloomberg Markets ranking of global forecasters, that Joshua Shapiro, chief U.S. economist at forecasting firm Maria Fiorini Ramirez, Inc., scored the top spot among forecasters of the U.S. economy for the two-year period ended on September 30.

Bloomberg noted that Shapiro and his firm have been among the more pessimistic forecasters of a U.S. recovery, citing data that show slow growth and relatively high joblessness persisting through 2013. Shapiro predicts the U.S. economy will grow next year by about 1.5%.

Bloomberg said that Shapiro considers the $1 trillion U.S. fiscal deficit an important drag on future expansion with the Fed