This website uses cookies to store information on your computer. Some of these cookies are used for visitor analysis, others are essential to making our site function properly and improve the user experience. By using this site, you consent to the placement of these cookies. Click Accept to consent and dismiss this message or Deny to leave this website. Read our Privacy Statement for more.
Join | Print Page | Contact Us | Sign In
News & Press: Industry

Survey: Business Economists See Slowdown in Growth This Year

Thursday, April 4, 2019   (0 Comments)
Posted by: Alyce Ryan
Share |

WASHINGTON (AP) — The nation’s business economists foresee a sharp slowdown in U.S. economic growth over the next two years, in sharp contrast to the Trump administration’s predictions that growth will accelerate this year and next.

That finding comes from the latest survey by the National Association for Business Economics being released Monday. Its economists collectively project that growth, as measured by the gross domestic product, will reach a modest 2.4 this year and just 2 percent in 2020. Among the key factors in their dimmer assessment are a global slowdown and the ongoing trade conflicts between the Trump administration and several major trading partners.

Still, the NABE economists say they think a recession remains unlikely any time soon.

For 2018, economic growth amounted to 2.9 percent, the government has estimated. The economy benefited last year from tax cuts and increased government spending, the gains from which are now thought to be fading. It’s one reason why most economists foresee a more sluggish pace of growth.

Read Full Article