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Economists Trim Forecast on Economy, but Expect Higher Pay
Economists Trim Forecast on Economy, but Expect Higher Pay
By Bernard Condon, AP business writer
·NEW YORK — Dec 7, 2015, 8:30 AM ET
Business economists are slightly less bullish about prospects for economic growth next year, according to a survey published Monday.
The National Association for Business Economics says the average forecast is for growth of 2.6 percent next year, down slightly from 2.7 percent in its previous survey conducted in September. But they expect the jobs market to continue strengthening, with the unemployment rate dropping to 4.7 percent by the end of 2016. The rate now stands at 5 percent.
The survey conducted Nov. 6-18 among a panel of 49 business economists struck a slightly downbeat note as experts lowered earlier forecasts on a variety of measures of economic health, including housing starts and industrial production.
Further out, two-thirds of those surveyed expect potential economic growth between 2 and 2.5 percent over the next five years.
By Bernard Condon, AP business writer
·NEW YORK — Dec 7, 2015, 8:30 AM ET
Business economists are slightly less bullish about prospects for economic growth next year, according to a survey published Monday.
The National Association for Business Economics says the average forecast is for growth of 2.6 percent next year, down slightly from 2.7 percent in its previous survey conducted in September. But they expect the jobs market to continue strengthening, with the unemployment rate dropping to 4.7 percent by the end of 2016. The rate now stands at 5 percent.
The survey conducted Nov. 6-18 among a panel of 49 business economists struck a slightly downbeat note as experts lowered earlier forecasts on a variety of measures of economic health, including housing starts and industrial production.
Further out, two-thirds of those surveyed expect potential economic growth between 2 and 2.5 percent over the next five years.
