Top-Ranking MBA Program Issues Economic Forecast for 2007

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U.S. economic growth will slow to just above two percent in 2007, according to Michael Mussa, one of the speakers at the annual business forecast conference of the University of Chicago Graduate School of Business. During the coming two years, a Chinese banking crisis will surface, Austan Goolsbee, a professor of economics at Chicago GSB said during the conference.

U.S. economic growth will slow to just above two percent in 2007, after three years of nearly four percent annualized growth, according to Michael Mussa, one of the speakers at the annual business forecast conference of the University of Chicago Graduate School of Business (http://ChicagoGSB.edu).

A modest acceleration in economic growth, as measured by real gross domestic product, is expected in 2008, Mussa said at the conference in Chicago on December 6. He is a senior fellow at the Peter G. Peterson Institute for International Economics, Washington, DC.

"Nevertheless, with an economy growing at barely more than a 2 percent rate and with monetary policy tied up with concerns about inflation, the risks that we might stumble into recession in 2007 are significantly greater than they have been for the past five years," Mussa said.

Complete coverage of the conference is available at

http://www.chicagogsb.edu/news/2006-12-07_bf.aspx

CONTACT:

Allan Friedman (773) 702-9232

Barbara Backe (773) 702-4282

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