Residential housing will “continue to be a drag on the economy” in the first half of 2007, but solid growth in investment and trade will help the economy grow at a faster rate next year than in 2006, according to a trade group representing manufacturers.

The economy will grow at 2.9 percent in 2007 and 2.8 percent in 2008, the National Association of Manufacturers forecasts, up from 2.1 percent in 2006.

Remove the housing sector from the equation, and gross domestic product (GDP) actually grew 3.3 percent in the second and third quarters of 2006 — close to the 3.4 percent rate achieved in the prior four quarters, said the association

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription