Metal markets need stronger US growth: Morici

Jun 25, 2013 | 04:21 PM | Everdeen Mason

Tags  Metals Service Center Institute, MSCI, copper and brass, Peter Morici, economist, everdeen mason

KOHLER, Wis. — For metal markets such as copper to improve there needs to be stronger overall growth in the United States, according to economist Peter Morici.

Morici said he is less optimistic than others about how strong the U.S. and global economies will be in the coming two years, but there is nonetheless some slight growth on the horizon, he said at the Metals Service Center Institute’s Copper and Brass Products Division Conference in Kohler, Wis.

He said he expects the U.S. economy to grow more rapidly in 2014 than this year—he projects gross domestic product growth of about 2.3 percent compared with a projected 2 percent growth in 2013—but others are more optimistic. "If there’s optimism about the economy, it’s good for metal prices, but now how long can that be sustained?"....

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