Economists Upbeat about U.S. Growth, Job Market

[sabra]

Source: CBS News/AP

NABE Survey Forecasts GDP to Grow 3.2%, Unemployment to Fall to 9.4% by Year's End; Deficits Still a Concern

(AP) Economists forecast the pace of U.S. growth to pick up in the year ahead as consumers and businesses alike accelerate spending, according to a new survey.

The assessment by leading forecasters is set to be released Monday by The National Association for Business Economics. It finds them more bullish than when the survey was last surveyed in February, with a majority expecting the economy's performance to exceed the long-term norm in 2010 and 2011.

The outlook amounts to an encouraging report card on the economy at nearly the one-year mark of the recovery, which the experts date to June 2009 when the recession hit bottom.

"Although risks involving Europe have recently escalated, the outlook in this country has improved in most respects," said Lynn Reaser, the group's president and chief economist at Point Loma Nazarene University. "Growth prospects are stronger, unemployment and inflation are lower, and worries relating to consumer retrenchment and domestic financial headwinds have diminished."


Read more: http://www.cbsnews.com/stories/2010/05/24/business/main6513506.shtml?tag=stack

[ixion]

1. LOL

Okay, we'll see how that works out.

[mbperrin]

2. Point Loma Nazarene University?

A noted economic powerhouse, little doubt...

[proudohioan]

3. The article (not OP) was pretty vague and unsubstantiated.

Maybe some better detailing would be nice, CBS News?

[jpak]

4. unrec this! No good news 4 U! Obama must fail!

:evilgrin:

[TheWatcher]

7. Please, dear. The adults are having a discussion.

[burf]

5. In a related story......

WASHINGTON (MarketWatch) -- About 1.2 million jobless workers could be "cut off" from federal unemployment benefits next month if Congress does not pass an extension soon, according to a statement released Monday by the National Employment Law Project

Link: http://www.marketwatch.com/story/12-million-unemployed-may-lose-federal-benefits-2010-05-24

How much of the drop in the unemployment number will be because 1.2 million will drop from the roles?

[lib2DaBone]

6. Add in all the Gulf Fishermen not allowed to work...

Restaurants closed, tourism down, Financial crisis in Europe heats up.. Boom... millions and millions of unemployed...

But they will insist until there are tent cities in Washington that Unemployments is at 10%.

Max Baucus got his big payoff from the Health Insurance Companies.. he's NOT EVEN THINKING about an extention for unemployment... why should he? He is fat and Happy.