Job Growth Becoming More Important Than Interest Rates Says Nar

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Lereah said the unemployment rate should decline to 5.5 percent by the fourth quarter. "The economy is solid, and job gains in the second quarter should lead to increased spending in the second half of the year."

Growth in the U.S. gross domestic product (GDP) is forecast at 4.6 percent this year. "Business spending is accelerating and record profits will help to stimulate additional activity," Lereah said. The GDP also will benefit from rising exports in the second half of the year.

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Job Growth Becoming More Important Than Interest Rates Says Nar

Existing-home sales are expected to total 5.89 million in 2004, second only to 6.10 mill...

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