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U.S. Officials Predict a Robust Recovery for Economy

03-17 13:48 Caijing

The economic growth in the United States is projected to rise to 4.3 percent in 2011 and 2012.

The U.S. officials said yesterday that the country will see a robust recovery in the next three year. In 2011 and 2012, the economic growth is projected to stabilizes at around 4.3 percent, while unemployment rate will remain high for an extended period of time, Xinhuanet reported.

The U.S. economy will grow by 3 percent this year, and in the next two years, the growth is projected to rise to 4.3 percent, Treasury Secretary Timothy Geithner, White House budget director Peter Orszag and Christina Romer, Chairman of the Council of Economic Advisers, said in a joint statement.

Inflation probably will remain low in the next three years. As predicted, the inflation rate is 1 percent in 2010 and probably rises to 1.4 percent in 2011 and 1.7 percent in 2012.

The three officials also said in the statement that the unemployment rate will stay elevated for an extended period of time. The forecast projects that in the fourth quarter of 2011, the unemployment rate will be 8.9 percent, and that by the fourth quarter of 2012, it will be 7.9 percent.

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