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Monday
Feb272012

Economy to Grow Slow But Steady in 2012, Survey Finds

Comstock Images/Thinkstock(NEW YORK) -- Economists are becoming more confident that the United States will avoid another recession anytime soon, but they’re still cautious about this year’s rate of growth.

The latest quarterly survey from the National Association for Business Economics forecasts 2.4 percent growth this year.

“This is not gangbusters,” economist Richard DeKaser says of the NABE report.  “But it is solid and probably more important is that people are feeling more confident about their forecast.”

The survey says one big difference this year compared to 2011 is an improving jobs market.

“Businesses were able to get away without hiring because productivity was so strong,”  DeKaser said.  “That’s not the case anymore.  So we're seeing even moderate GDP gains translate into more jobs."

Copyright 2012 ABC News Radio







ABC News Radio