WASHINGTON – The U.S. economy “appears to be transitioning to a sustainable growth path,” says a report released today by The National Association for Business Economics.
The NABE forecast panel predicts the gross domestic product will start the year with modest growth and gain momentum in the second half, to 2.8 percent above year-ago levels by the fourth quarter. Next year, the panel predicts GDP growth will edge up to 3.1 percent.
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Unemployment is expected to remain “roughly stable” this year, while the housing slump now dampening the economy is expected to ease in the second half. But the dollar is expected to see “a further gradual weakening” against the euro and other currencies.
The NABE panel predicts inflation will be lower this year, and the so-called core rate excluding food and energy will be largely stable.
Additional information is available at www.nabe.com.
