Economists Forecast Lower GDP

The annual average growth rate for the year is expected to reach only 2.4 percent, in line with the pace recorded in 2014, according to a new survey from the National Association for Business Economists. The NABE Outlook Survey panel’s median forecast for real GDP growth from the fourth quarter of 2014 to the fourth quarter of 2015 is 2.3 percent—sharply lower than that reported in the March survey. The median forecast for 2016 is unchanged at 2.9%. “NABE’s June Outlook Survey panelists look for the U.S. economy to expand at a slower rate in 2015 compared to their expectations in March,” according to NABE President John Silvia, chief economist of Wells Fargo. “Their views on economic growth have been tempered by sluggish conditions during the first three months of the year that have persisted into the second quarter. “


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