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GDP forecast to decline 1.4 percent in 2009: EIA

WASHINGTON
Wed Nov 12, 2008 2:15pm EST
A container ship docked at the port of Los Angeles, July 2 , 2008. REUTERS/Mario Anzuoni

WASHINGTON (Reuters) - The estimate for U.S. real gross domestic product growth was lowered to 1.3 percent this year and was projected to decline by 1.4 percent in 2009, the U.S. Energy Information Administration said on Wednesday in its monthly forecast.

The U.S. average unemployment rate is expected to jump to 7.9 percent next year, the Energy Department's analytical arm said. World real GDP growth is projected to slow from about 4 percent in 2006 and 2007 to about 2.5 percent this year and 1.8 percent in 2009, the agency said.

Separately, the EIA said the price for U.S. West Texas Intermediate oil will average $63.50 a barrel next year.

(Reporting by Tom Doggett)


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