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.”
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