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Report: 2010 capital spending to boost staffing

December 14, 2009
Staffing Industry Analysts North American Daily News

The BofA Merrill Lynch Global Economics Research team estimated global gross domestic product growth of 4.4% in 2010 with U.S. GDP growth at 3.2%.

In addition, the BofA Merrill Lynch Research Investment Committee reported corporate capital spending in 2010 will boost temporary staffing and the industrial sector as production expands.

"We believe the global economy will gather momentum in 2010," said Ethan Harris, head of North America economics and coordinator of global economics. "We think that the unprecedented mix of near-zero interest rates and high budget deficits will engineer an economic recovery that is real and sustainable. We aren't forecasting a swift return to robust growth. In fact, the recovery will likely lag behind those of previous recessions -- but we believe that the world economy will perform far better than the economic consensus would indicate."