Doll predicts 2% US GDP growth despite economic fears

BlackRock's chief equity strategist Bob Doll remains resolutely positive on the US economy, predicting 2% GDP growth despite a surge in double dip fears.

He says the modestly positive economic data released last week, including a drop in jobless claims, a narrowing of the trade balance, and an increase in wholesale inventories confirms the recovery is intact. "This helps reinforce our view that a slow economic growth environment is more likely to occur than is a double-dip recession," he says. "There are, of course, some significant downside risks that could continue to weigh on economic growth, including ongoing consumer deleveraging, a still-troubled global financial system and a weak housing market. The labor market also remains dep...