While 2006 should see softening housing prices and a decline in consumer spending, there seems little likelihood of a recession, Ian Morris, Chief US Economist, HSBC Securities (USA) Inc, told a record turnout at the HSBC Global Forum in New York, 1 December.
In his remarks, Ian suggested that the direction of the US housing market will be a key determinant of consumption growth through next year. "US consumer spending will in turn be critically important," he added, "driving not just US business investment, but also the global trade cycle."
Ian's presentation was the sixth in the HSBC Global Forum series, which was launched by HSBC Private Bank - Americas in 2004. Past forums have focused on currency trading, China, emerging markets and the Russian economy. The HSBC Global Forums provide clients of HSBC Private Bank - Americas direct access to leading financial and economic experts from throughout the HSBC organisation. The full presentation is available to download as a PDF file.
Download "The US Economic Outlook", December 2005 (PDF file)
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