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Economists expect weak growth through 2011

Economists expect weak growth through 2011
News
Monday, October 11, 2010 - 4:09pm

WASHINGTON (AP) - Top economic forecasters don't see a dramatic
improvement on the horizon this year or next.
 

Those surveyed by the National Association of Business Economics
are lowering their expectations after seeing weak economic data in
recent months.
 

The panel reduced its forecast for annual economic growth to 2.6
percent in 2010 and 2011. That's down from its forecast of 3.2
percent in May.
 

The 46 economists surveyed expect the economy will add jobs
through the end of 2011, but not enough to bring the unemployment
rate below 9.2 percent.
 

They say consumer spending is likely to remain low and the
housing market will continue to struggle.
 

And they don't see the nation's soaring deficit falling much.
The NABE's Outlook survey is conducted four times per year.

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