Rosenberg Says U.S. Economy May Shrink in Fourth Quarter

The U.S. economy may fail to grow or even shrink in the fourth quarter as auto production subsides following a surge in the previous three months, said David Rosenberg, chief economist at Gluskin Sheff & Associates Inc.

“Almost all the growth we had in the third quarter” was due to auto production, Rosenberg, a former chief economist for North America at Merrill Lynch & Co., said on Bloomberg Television’s “Surveillance Midday” with Tom Keene. “The fourth quarter could actually be flat to negative.”