While recent economic indicators generally suggest that the US economy is recovering and that productivity has been continuing to increase, there is caution with respect to business fixed investment and corporate profits.
The deficit ratio is projected to rise to 5.3% of GDP in 2009 and further to 6.5% in 2010, from 1.9% in 2008, with the debt ratio exceeding 80% of GDP in 2010. A large majority of euro area countries are expected to exceed the 3% of GDP deficit reference value in 2009 and 2010.