LANSING, Mich. — In a good sign for a resurging General Motors, University of Michigan economists are forecasting a climb in motor vehicle sales over the next two years that should help bolster automakers’ fortunes.
But don’t look for a strong economic recovery just yet. University of Michigan economists said Thursday in their annual national forecast that the economy won’t really accelerate until 2012.
GM stock began trading on Wall Street again Thursday as the Detroit-based automaker took steps to repay the federal loan that helped it emerge from bankruptcy.
The economists say they expect the country to add 1.2 million jobs in 2011 and 2 million in 2012. Light vehicle sales are expected to climb from 11.5 million units this year to 12.7 million in 2011 and 14.8 million in 2012.