US economy won't change in time for November elections: Expert

Washington, July 16 (ANI): Neither U.S President Barack Obama nor Republican Presidential contender Mitt Romney should expect big changes in the economy by November, a leading economist has said.

Mark Zandi, chief economist at Moody's Analytics, said during an interview with CBS that 'the economy on Election Day will feel pretty much like it does today.'

According to The Politico, Zandi predicted the November unemployment rate would be around eight percent, near its current level at 8.2 percent.

He, however, noted that the unemployment rate was lower in key swing states, including Ohio, Virginia and New Hampshire.

According to the report, Robert Reich, a University of California-Berkeley professor and former labor secretary in the Clinton administration, cautioned about such predictions.

"Economic forecasters exist to make astrologers look good," the report quoted Reich, as saying. (ANI)