Sub-par economic growth and continued high unemloyment is what policymakers, regulators and financial executives say we can expect.
RBC Capital Markets surveyed 172 of them at the two-day Buttonwood Gathering in New York this week. Some of the findings:
* 49% expect three to five years of sub-par growth (below 2% annually) in the U.S.
* 16% expect five to 10 years of such sub-par growth.
* 28% see a slow return 3% annual growth over the next two years.
* 61% see the U.S. unemployment/underemployment rate easing to 12% to 15% from the current 17.1%.
“The financial and government leaders attending this year’s Buttonwood Gathering do not see either the best case of a return to robust growth or the worst case of a double-dip recession,” said Marc Harris, Co-Head of Global Research for RBC Capital Markets. “Instead, they see the economy continuing to trudge along.”
Slog, slog, slog.