OECD's U.S. outlook seen as too optimistic

NEW YORK, Nov. 30 (UPI) -- Some economists think the latest Organization for Economic Cooperation and Development forecast for U.S. growth -- 3.5 percent in the next year -- is too high.

The OECD predicts that U.S. gross domestic product will increase 3.5 percent in 2006, a figure that seems high to some bankers and analysts.

"The two major concerns are the extent of slowdown in housing and how it can feed into growth and consumer spending," said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc., a research firm in New York.

He suggests that 3.2 percent is more likely, The New York Times reported Wednesday.