« Lumber Prices Jump with Housing Market Recovery | Main | Report: Natural Gas to Top Coal as World's No. 2 Energy Source »

US Economy Not Making Rapid Growth Soon, Economists Say

Comstock Images/Thinkstock(NEW YORK) -- Will the U.S. economy get better soon?  

Yes, but not by much, according to a new survey of business economists out on Monday.  Forecasters from the National Association for Business Economics expect only modest growth in the first half of next year.

"But they do expect growth to accelerate as the year progresses," adds economist Nyantara Hensel.

She says panel members are concerned about tax and spending gridlock in Washington.

"One of the major headwinds continues to be concerns about whether or not Congress is going to be able to straighten out their spending plans," Hensel says.

But while business investment may sag, there is a bright spot: "The improvement in the housing market is likely to continue," Hensel notes.

Copyright 2012 ABC News Radio

ABC News Radio