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Economist: 'No joy for autos in U.S.'

Dearborn, Mich. - Global Insight Chief Economist Nariman Behravesh this morning said the risks of a recession in the United States are real and potentially damaging to the automotive market going forward, according to the Detroit Free Press.

"Consumer spending will slow," he said, predicting a recovery in mid-2008 at the earliest.

Behravesh, making his comments at Global Insight's Global Automotive Conference in Dearborn today, said he expects the Federal Reserve to cut interest rates two more times to revive the economy and help prevent a recession.

Posted by Peter C. T. Elsworth  at 11:59 AM to Auto industry | Permalink

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