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Article: Economic recovery driven by increase in business spending.(Knight Ridder Newspapers)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- November 26, 2003
- Author:
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ken Moritsugu
WASHINGTON _ Two years after the 2001 recession ended, a long-awaited resurgence in business spending finally is propelling the U.S. economy toward a lasting, jobs-creating recovery.
"Businesses are coming out of their cocoon," said Mark Zandi, the chief economist at Economy.com, an economic analysis firm in West Chester, Pa.
"Four to eight weeks ago, I was much more worried that the recovery might be short-circuited," he added. "Now I'm convinced it won't. Businesses are doing what we thought they'd be doing a year ago, which is expanding. That was the key missing ingredient, and we've found it."
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