The U.S. economy is on track to pick up in the second half of the year by about 2 percent, which is not great but is "not a double dip, it’s not a recession," Barclays Capital Managing Director Larry Kantor told CNBC Thursday.
It's "not a good situation, but it’s not a disaster either," he added.
Unlike others, notably investor George Soros, Kantor said Barclays' recent survey of the economy is in sync with recent growth projections by the Federal Reserve of improvement in the second half of the year.