US economy is expected to grow in 2003

US economy is expected to grow in 2003

Economic forecast in the US points out to an expansion gaining an upward trend within the coming year, according to recent reports. The economic growth is expected to reach its potential during 2003. Federal Reserve Bank of Chicago reckons an annual rate of economic growth of approximately 3 to 3.5% in the US for year 2003. It is believed that the monetary policy put in place will enhance the aggregate demand together with the strong underlying productivity, despite the existing uncertainties to the outlook. Furthermore, analysts are at the opinion that the low-inflation environment that gave room to the government to maintain an accommodative monetary policy for sometime will help to overcome the economic recovery.