While economists have predicted U.S. GDP growth of 3.1% over the next 12 months, Mellon Capital Management foresees growth of 2.0% -- primarily due to government policy stalemates and the lingering impact of the debt crisis in Europe.

Nonetheless, profits for the companies in the Standard & Poor’s Index will increase 6.8% over the next year, well below the 14.1% consensus forecast, Mellon said in a report titled “Impact From The Recent Turmoil: A Macroeconomic Outlook.”

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access