The economy will expand faster than previously forecast this year as higher oil prices provide additional budget revenue for government spending, Morgan Stanley said Monday.
Gross domestic product will probably gain 5 percent this year, Jacob Nell and Alina Slyusarchuk, analysts at Morgan Stanley, said in a research report, increasing their forecast by 0.5 percentage point. The economy will grow 4.5 percent in 2012, they said.
(Bloomberg)
