The Financial Services Forum is a think tank of sorts; it’s a group of 20 CEOs of financial services companies doing business in the US.  They released a couple of interesting pieces of data yesterday as reported by the WSJ. 

They ranked the US 9th, yes 9th, among counties expected to contribute to global economic growth over the next decade.  Countries placing ahead of the US in the survey rankings included China, India, Russia, Eastern Europe, Other Asian Countries, Middle East, South Korea, and Latin America.  Why the low ranking for the US?  Due to credit market ills and looming threat of inflation, most are predicting US GDP growth of less than 1% this year.  They’re also listed a growing protectionist movement in the US as an impediment. 

The group also placed odds on the likelihood of US recession – 88% as a whole, and apparently 1 in 3 put it at 100%.   The group overall stated they we’re pleased with the Fed’s response to the credit ills plaguing the nation (no surprise there given the Feds assistance to the financial services sector of late). 

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